On January 1, 2021, Sunland Corporation issued $4700000, 10-year, 7% bonds at 104. Interest is...
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On January 1, 2021, Sunland Corporation issued $4700000, 10-year, 7% bonds at 104. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2021 is O Cash Bonds Payable 4700000 4700000 O Cash Bonds Payable 4888000 4888000 4888000 O Cash Bonds Payable Premium on Bonds Payable 4700000 188000 O Premium on Bonds Payable Cash Bonds Payable 188000 4700000 4888000
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