Answered

Explore Westonci.ca, the leading Q&A site where experts provide accurate and helpful answers to all your questions. Connect with professionals on our platform to receive accurate answers to your questions quickly and efficiently. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

if abc company receives $100,000 cash in exchange for issuing 100 bonds at their $1,000 face value, the transaction will be recorded with a

Sagot :

abiolataiwo2015

Based on the information the appropriate journal entry to record the transaction is : Debit to cash of $100,000; Credit to bonds payable of $100,000.

Based on the information given we were told that the cash  amount of $100,000 cash was received my the company in exchange for issuing 100 bonds at their $1,000 face value.

Therefore the correct journal entry to record the transaction is:

Debit  Cash  $100,000

Credit Bonds payable  $100,000

(To record bonds payable)

Learn more here: https://brainly.com/question/19091678

We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.