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Ainat [17]
3 years ago
8

Ten years ago, Cary Company issued $1,500,000 of 7 percent, 10-year bonds at a price of 95. On the maturity date of January 2, a

fter making the final interest payment and recording the related entry, Cary retired the bonds. Complete the necessary journal entry for January 2, 2019 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
arsen [322]3 years ago
3 0

Answer:

Explanation:

The journal entry is presented below:

On January 2

Bond payable A/c Dr $1,500,000

      To Cash A/c $1,500,000

(Being the redemption of the bonds is recorded)

The discount on bonds payable would be matured on the date of maturity so in this case the face value would be recorded and it is equaled to the carrying value

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Answer:

It is an advance of the face amount of the policy

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guajiro [1.7K]
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DIA [1.3K]

Answer:

Option C.

Explanation:

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3 years ago
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xxTIMURxx [149]

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5 0
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Which of the following pair of journal entries correctly records the current month's activity where the company had $21,030 in t
Lelechka [254]

Answer:

----------------------    -   -------------------------------

Factory Payroll         21030

             Cash                        21030

----------------------    -    -------------------------------

Goods in process     16200

Factory Overhead     4830

       Factory Payroll               21030

----------------------    -    -------------------------------

Explanation: The payment of the total labor factory costs must be recorded, we debit the "Factory payroll" cost account and credit the "cash" account as they were paid in cash.

Then we must allocate these costs to the production process, therefore we debit the "goods in process" account for the amount of <u>direct labor</u> consumed, and "factory overhead" for the amount of <u>indirect labor </u>consumed, and finally credit the account " Factory payroll " for the total.

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3 years ago
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