Business, 19.10.2020 22:01 ladydeathanddea

On January 1, 2020, Meeks Corporation issued $5,000,000, 10-year, 4% bonds at 102. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2020 is a. Cash 5,000,000
Bonds Payable 5,000,000

b. Cash 5,100,000
Bonds Payable 5,100,000

c. Premium on Bonds Payable 100,000
Cash 5,000,000
Bonds Payable 5,100,000

d. Cash 5,100,000
Bonds Payable 5,000,000
Premium on Bonds Payable 100,000

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On January 1, 2020, Meeks Corporation issued $5,000,000, 10-year, 4% bonds at 102. Interest is payab...

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