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Landings Glassware Company issues $ 1 comma 041 comma 000$1,041,000 of 99%, 10minusyear bonds at...

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Question

Accounting

Landings Glassware Company issues

$ 1 comma 041 comma 000$1,041,000

of

99%,

10minusyear

bonds at

9595

on February 28, 2019. The bonds pay interest on February 28 and August 31. The journal entry to record the issuance includes a ________.

A.

credit to Bonds Payable for $ 988 comma 950$988,950

B.

debit to Cash for $ 988 comma 950$988,950

C.

debit to Cash for $ 1 comma 041 comma 000$1,041,000

D.

credit to Discount on Bonds Payable for $ 52 comma 050

Answer & Explanation Solved by verified expert
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