The Reagan Corporation Issues 1,000, 10-Year, 8%, $1,000 Bonds Dated

question 47

Multiple Choice

The Reagan Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2014, at 92. The journal entry to record the issuance will show a

• A) credit to Discount on Bonds Payable for $80,000.
• B) debit to Cash of $1,000,000.
• C) credit to Bonds Payable for $1,000,000.
• D) credit to Cash for $920,000.

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Definitions:

Intrapersonal Skills

The ability to understand and manage one's own emotions, thoughts, and behaviors.

Differentiation

The process of identifying and emphasizing the unique characteristics of a product, service, or entity to distinguish it from competitors.

Problem-Solving

The process of finding solutions to difficult or complex issues by identifying the problem, gathering information, creating and considering options, and implementing solutions.

Critical Thinking

The objective analysis and evaluation of an issue in order to form a judgment.