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Sveta_85 [38]
3 years ago
12

Ivanhoe Company issued $250,000 of 10%, 20-year bonds on January 1, 2022, at face value. Interest is payable annually on January

1.
(a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Ivanshal [37]3 years ago
4 0

Answer:

Dr. Cash                 $250,000

Cr. Bond Payable  $250,000

Explanation:

Bonds issued are the liabilities for the company because it company received cash against the bonds which will be paid at maturity along with the interest.

As cash is an asset and it is being received, to increase the value of cash balance we debited the cash account. The bond is a liability and to add a value in a liability account we need to credit the bond payable account.

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Answer:

The correct answer is Brand Loyalty.

Explanation:

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What should every prepared hunter carry for outdoor emergencies? hunting plan fanny pack global positioning system first-aid kit
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3 years ago
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Answer:

$544.265

Explanation:

Given:

FV = $1,000

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3 years ago
On September 11, 2016, Home Store sells a mower for $590 with a one-year warranty that covers parts. Warranty expense is estimat
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Answer:

Sep 11

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Cr Sales 590.00

Dec 31

Dr Warranty expense 59.00

Cr Estimated warranty liability 59.00

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Dr Estimated warranty liability 41.00

Cr Repair parts inventory 41.00

Explanation:

Home Store Journal entry

Sep 11

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Cr Sales 590.00

Dec 31

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Cr Estimated warranty liability 59.00

July 24

Dr Estimated warranty liability 41.00

Cr Repair parts inventory 41.00

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3 years ago
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