Bonds with a Face Amount $1,000,000, Are Sold at 106

question 112

Multiple Choice

Bonds with a face amount $1,000,000, are sold at 106. The entry to record the issuance is

• A) Cash 1,000,000 Premium on Bonds Payable 60,000
• Bonds Payable 1,060,000
• B) Cash 1,060,000 Premium on Bonds Payable 60,000
• Bonds Payable 1,000,000
• C) Cash 1,060,000 Discount on Bonds Payable 60,000
• Bonds Payable 1,000,000
• D) Cash 1,060,000 Bonds Payable 1,060,000

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