McDonald Sales Prepared a Bond Issue of $20,000 Dated January

question 62

Multiple Choice

McDonald Sales prepared a bond issue of $20,000 dated January 1,2013.The bonds have a stated rate of 3% and a term of 6 years.The bond issue was delayed,and the bonds were finally sold on March 1,2013 at par.The journal entry to record the issuance of the bonds on March 1,2013 will include which of the following?

• A) Credit to Interest payable of $100
• B) Credit to Bonds payable for $20,100
• C) Debit to Cash for $20,300
• D) Credit to Cash for $20,110

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Definitions:

Total Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Available Suites

Rooms or sets of connected rooms in a hotel, hospital, or other establishments that are ready for occupancy or use.

Uncertain Variable

A variable with ambiguous or unknown values, often used in contexts requiring decision-making under uncertainty.

Crystal Ball

A forecasting and simulation software tool used for predicting and analyzing future scenarios in business and finance.