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

question 116

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.On June 30,2013,the first semiannual interest payment is made.The journal entry to record that interest payment will include which of the following line items?

• A) Credit Cash for $200
• B) Debit Cash for $300
• C) Credit Interest payable for $100
• D) Debit Interest expense for $200

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Definitions:

Role

The function or position that an individual or entity is expected to perform within a specific context, setting, or organization.

Representation Election Results

The outcome of a voting process in which employees decide whether or not to be represented by a union in their workplace.

Standard

Established criteria or norms used as a reference point for measuring quality or performance.

Industrial Unionism

A labor union organizing method where all workers in the same industry, regardless of their particular skills or trades, are organized into a single union.