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  3. 1) a bond is a formal debt instrument that obligat

1) A bond is a formal debt instrument that obligates the...

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Accounting

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1) A bond is a formal debt instrument that obligates the borrower to repay a stated amount at the maturity date. This stated amount is referred to as the: A) Lease. B) Interest. C) Principal or face amount. D) Note, 2) Yanik Corporation issues 5,000,10-year, 8%,$1,000 bonds dated January 1,2024 , at 97 . The journal entry to record the issuance will show a A) Credit to Bonds Payable $4,850,000 B) Credit to Cash $4,850,000 C) Debit to Cash $5,000,000 D) Debit to Discount on Bonds Payable $150,000 3) Term bonds are bonds: A) that mature in installments. B) that mature all at once. C) issued above the face amount. D) issued below the face amount. 4) The Titan retires a $20 million bond issue when the carrying value of the bonds is $18 million, but the market value of the bonds is $23 million. The retirement will include: A) a decrease to cash of $18 million. B) No gain or loss on retirement. C) a gain of $5 million. D) a loss of $5 million. 5) Given the information below, which bond(s) will be issued at a discount

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