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Determine what the entry to record the issuance is

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Reference no: EM132776077

Problem 1: Bonds with a face value of $888000 and a quoted price of 98.5 have a selling price of

A. $874680.
B. $872460.
C. $870284.
D. $870684

Problem 2: Five thousand bonds with a face value of $1000 each, are sold at 113. The entry to record the issuance is

A. Cash $5000000
Premium on Bonds Payable $650000
Bonds Payable $5650000

B. Cash $5650000
Premium on Bonds Payable $650000
Bonds Payable $5000000

C. Cash $5650000
Bonds Payable$5650000

D. Cash $5650000
Discount on Bonds Payable $650000
Bonds Payable $5000000

Reference no: EM132776077

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