Homework SourseCarla Vista Co issues 345000 20year 9 bonds at 103 Prepare t
Carla Vista Co. issues $345,000, 20-year, 9% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2017
Carla Vista Co. issues $345,000, 20-year, 9% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2017
* 73%- edugen.wileyplus.com US References b Assuming instead that the above bonds sold for 1... Kimmel, Accounting, 6e Help I System Announcements TOR PRINTER VERSION NEXT Brief Exercise 10-9 Carla Vista Co. issues $345,000, 20-year, 9% bonds at 103, prepare the journal entry to record the sale of these bonds on June 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Accoust Tirles and Explanation Debit Credit Bonds Payable Click if you would like to Show Work for this question: Open Show Work Question Attempts: o of 3 used SAVE FOR LATER SUBMIT ANSWER SUBMIT ANSWER Solution
Solution:
Preparing the Journal Entries to Record the Sale of these Bonds on June 1, 2017:
| Date | General Journal | Debit | Credit |
| June 1, 2017 | Cash ($345,000 * 1.03) | $355,350 | |
| Bonds Payable | $345,000 | ||
| Premium on Bonds Payable | $10,350 |
