isaac5773 isaac5773
  • 07-02-2020
  • Business
contestada

On August 1, 2022, Blue Spruce Corp. issued $481,200, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Blue Spruces year-end is December 31. Prepare journal entry to record the issuance of the bonds.

Respuesta :

Uzzaam369 Uzzaam369
  • 08-02-2020

Answer:

The journal entry for the issuance of bond will be: Cash credit by $481200

and Bond receivable debit by $481200

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