Hornbeck Company Issued $100,000 Bonds Payable with a 7% Interest

question 24

Multiple Choice

Hornbeck Company issued $100,000 bonds payable with a 7% interest rate at a price of 97. The journal entry to record the issue of the bond includes:

• A)a debit to Bonds Payable $100,000.
• B)a debit to Discount on Bonds Payable, $3,000.
• C)a credit to Cash, $97,000.
• D)all of the above.

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Definitions:

Census of Agriculture

A national survey conducted to collect, analyze, and publish data on various aspects of agriculture, including farm operations, production, and management practices.

Farm Size

The total area of land under cultivation or available for agricultural production within a single farm.

Survey

A method of collecting data and opinions from individuals about various topics, usually through a set of questions.

Questionnaire

A set of written questions used for collecting information from individuals.