Answer:
C. Letter C; demand exceeds supply, resulting in a shortage
Explanation:
I had put my answer as A on the test and got it wrong. But this is the correct answer C.
The correct entry to record the transaction concerning the company's sale of 10,000 shares of previously authorized stock is <u>a debit to Cash of $100,000 and a credit to Common Stock $100,000</u>.
<h3>Data Analysis:</h3>
Number of shares sold = 10,000
Par value =$10 per share
Cash $100,000 Common Stock $100,000
Thus, the correct entry to record this stock sale is <u>a debit to Cash of $100,000 and a credit to Common Stock $100,000</u>.
Learn more about recording the issuance of stock here: brainly.com/question/25562729
Answer:
$315,250
Explanation:
total discount on bonds payable = $320,000 - $315,000 = $5,000
amortization of bond discount per coupon payment = $5,000 / 20 = $250
bonds carrying value after the first coupon payment is made = $315,000 + $250 = $315,250
Dr Interest expense 8,250
Cr Cash 8,000
Cr Discount on bonds payable 250
