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saw5 [17]
3 years ago
12

Blossom Electric sold $3,800,000, 8%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually

on January 1. Blossom Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2020.
Business
1 answer:
katovenus [111]3 years ago
8 0

Answer:

Dr cash $3 914 000 Cr bond premium $114 000 cr Bonds payable $3800000

Explanation:

Bond sold at a premium

$3800000(103%)=$3 914 000

Bond premium =Bond sold at Premium-Par value bonds

                          $3 914 000-$3 800 00=$114 000

then the par value bond =$3800000

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zavuch27 [327]

Answer:

(a) The dollar value of abnormal spoilage.

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The complete solution of the problem is attached with an excel spreadsheet.

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3 0
3 years ago
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tiny-mole [99]

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A Open

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8 0
3 years ago
Volvo is a well-known quality manufacturer of cars, trucks, and suvs. volvo dealers also provide financing to their customers. t
babymother [125]
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8 0
3 years ago
What does this word Otorhinolaryngologist mean?
miv72 [106K]

Answer:

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Explanation:

8 0
2 years ago
Farr, an unmarried taxpayer, had $70,000 of adjusted gross income and the following deductions for regular income tax purposes:_
Karolina [17]

Answer:

C. $11,000

Explanation:

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5 0
3 years ago
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