The journal entry to record the issuing of 100 bonds at their $1,000 face value will include a debit to ________ and a credit to ________.
A)Cash;Bonds Payable
B)Notes Payable;Cash
C)Cash;Bonds Receivable
D)Bonds Payable;Cash

Question

Quizplus · Accepted Answer

The journal entry to record the issuance includes a debit to Cash for $100,000 and a credit to Bonds Payable for $100,000 (or the total face value of the bonds of $1,000 × 100 bonds).

The Journal Entry to Record the Issuing of 100 Bonds