Use the Present Value and Future Value Tables Included in Appendix

question 93

Multiple Choice

Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
-Kwancom Corporation, a calendar-year firm, is authorized to issue $200,000 of 10 percent, 20-year bonds dated January 1, 2012, with interest payable on January 1 and July 1 of each year. The entry to account for the discount amortization and accrual of interest on December 31, 2012, would include a

• A) Debit to Discount on Bonds Payable
• B) Credit to Cash
• C) Credit to Bond Interest Payable
• D) Debit to Bonds Payable

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