Reference no: EM132753497
Problem 1: On January 1, 2019, Swift Inc. issued $200,000, 20-year, 5% bonds at 105. Interest is payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2019, is:
A) debit cash, $190,000; debit discount on bonds payable, $10,000; credit bonds payable, $200,000.
B) debit cash, $210,000; credit bonds payable, $200,000; credit premium on bonds payable, $10,000.
C) debit cash, $204,000; credit bonds payable, $200,000, credit premium on bonds payable, $4,000
D) debit cash, $200,000; credit bonds payable, $200,000.
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