On april 1 20x6 ratchford industries issued 500000 of 12, Ask an Expert

Accounting

On April 1, 20X6, Ratchford Industries issued $500,000 of 12%, 10-year bonds. The bonds, which were issued at 103, pay interest on October 1 and April 1. The entry to record issuance of the bonds includes:

A. a debit to Cash of $500,000.

B. a credit to Bonds Payable of $503,000.

C. a debit to Premium on Bonds Payable of $15,000.

D. All of the above.

E. None of these.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91959571

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