Blanding Company Issues $1,000,000 of 8%,10-Year Bonds at 98 on February

question 40

Multiple Choice

Blanding Company issues $1,000,000 of 8%,10-year bonds at 98 on February 28,2014.The bond pays interest on February 28 and August 31.The market rate of interest on the issuance date was 10%.The journal entry to record the issuance would include a:

• A) debit to Cash for $1,000,000.
• B) credit to Bonds payable for $980,000.
• C) credit to Discount on bonds payable for $20,000.
• D) debit to Cash for $980,000.

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Definitions:

Love

A complex set of emotions, behaviors, and beliefs associated with strong feelings of affection, protectiveness, warmth, and respect for another person.

Satisfaction

A psychological state where an individual's desires, expectations, or needs are fulfilled, leading to a sense of contentment or pleasure.

Heterosexual Couples

Romantic partnerships between individuals of the opposite sex or gender.

Mate Selection

The process of choosing a partner for reproduction and/or companionship, influenced by a variety of biological, psychological, and social factors.