Using the Following Accounts

question 133

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Sold bonds at a discount.
Debit ________ & ________ Credit ________

• A)Cash
• B)Bond Sinking fund
• C)Equipment
• D)Building
• E)Land
• F)Accounts payable
• G)Notes payable
• H)Bond payable
• I)Bond interest payable
• J)Premium on bonds payable
• K)Discount on bonds payable
• L)Common stock
• M)Retained earnings
• N)Sinking fund earned
• O)Bond interest expense
• P)Gain on retirement
• Q)Loss on retirement

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Definitions:

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