Using the Following Accounts

question 133

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold bonds at a discount.
Debit ________ & ________ Credit ________

• A)Cash
• B)Bond Sinking fund
• C)Equipment
• D)Building
• E)Land
• F)Accounts payable
• G)Notes payable
• H)Bond payable
• I)Bond interest payable
• J)Premium on bonds payable
• K)Discount on bonds payable
• L)Common stock
• M)Retained earnings
• N)Sinking fund earned
• O)Bond interest expense
• P)Gain on retirement
• Q)Loss on retirement

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Definitions:

Seas Saltier

A condition resulting from the evaporation of ocean water, which increases the concentration of salts, making the seas saltier.

Quartzite

A hard, metamorphic rock formed from quartz-rich sandstone that has undergone heat and pressure transformations.

Weather

The state of the atmosphere at a place and time as regards heat, dryness, sunshine, wind, rain, etc.

Physical Weathering

The natural breakdown of rocks and minerals at the Earth's surface due to physical processes such as temperature changes, wind, water, and ice, without altering the rock's chemical composition.