On April 1,Year 1,the Journal Entry to Record Issuance of the Bonds

question 123

Multiple Choice

On April 1,Year 1,the journal entry to record issuance of the bonds will include:

• A)A credit to Interest Payable of $1,000,000.
• B)A debit to Cash of $20,000,000.
• C)A credit to Bonds Payable of $2,100,000.
• D)A debit to Cash of $21,000,000.