Yanik Corporation Issues 5,000, 10-Year, 8%, $1,000 Bonds Dated January

question 33

Multiple Choice

Yanik Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2017, at 97. The journal entry to record the issuance will show a

• A)debit to Cash of $5,000,000.
• B)debit to Discount on Bonds Payable for $150,000.
• C)credit to Bonds Payable for $4,850,000.
• D)credit to Cash for $4,850,000.

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Definitions:

Long-Run Equilibrium

A state in economic analysis where all factors of production are variable, leading to companies operating at their most efficient level and no further economic profits in a perfectly competitive market.

Club Meeting

A scheduled gathering of members of a particular group or organization to discuss issues, plans, or activities related to the group's interests.

Attendance

The act of being present at a particular place or event.

Persons

Refers to individuals or entities that are capable of possessing rights and duties.