Prepare journal entry to record the issuance of the bonds

Reference no: EM13259497

Prepare the journal entry to record the issuance of the bonds.(For multiple debit/creditentries, list amounts from largest to smallest eg 10, 5, 3,2.)

Account/Description Debit Credit

Cash $ 485,000

Discount on bonds payable $ 15,000

Bondspayable $ 500,000
Compute the total cost of borrowing for these bonds.

Reference no: EM13259497

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