WebView the full answer. Transcribed image text. : 008 The adjusting entry to record the amortization of a discount on bonds payable is debit Discount on Bonds Payable, … WebOct 31, 2024 · Bonds are amortized by a method in which the premium or discounted amount is allocated to the interest payments for each period of the bond's validity. When the market interest rate is greater or less than the bond's coupon rate, the bonds may issue a discount or premium at par. best flying schools in india for cpl WebTranscribed Image Text: Bonds Payable Sold at a Premium; Effective Interest Amortization On December 31, Coffey Company issued $375,000 of 15-year, ten … best flying schools in world Web4.2 Discuss the Adjustment Process and Illustrate Common Types of Adjusting Entries; 4.3 Record and Post the Common Types of ... the discount on bonds payable account is a contra liability account and is “married” to the Bonds Payable account on the balance sheet. The Discount will disappear over time as it is amortized, but it will ... WebExpert Answer. Answer: debit interest expense, Credit Discount …. The adjusting entry to record the amortization of a discount on bonds payable is debit Interest Expense, … 3x spicy fire ramen WebOct 31, 2024 · The journal entry for the bond discount amortization under the straight-line method for the first interest period will be as follows: Interest expense. $307,370. Bond …

Web45 seconds. Q. On January 1, 20X1, $3,000,000, 10-year, 10% bonds, were issued for $2,910,000. Interest is paid. annually on January 1. If the issuing corporation uses the straight-line method to amortize discount on. bonds payable, the annual amortization amount is. answer choices. $29,100. WebAt year-end, the company will have accrued eleven months of interest expense at $300 per month, for a total of $3,300. To record the payment, the cash account will be reduced by a credit and the liability account with a debit, resulting in the following adjusting entry: Debit Bond Interest Payable 3,300 Credit Cash 3,300 3x spicy noodles flipkart WebOct 31, 2024 · Find an answer to your question The adjusting entry to record the amortization of a discount on bonds payable is?. ScienceNerd8839 … WebMar 10, 2024 · The adjusting entry to record the amortization of a discount on bonds payable is. a. debit Discount on Bonds Payable, credit Interest Expense. b. debit … best flying type pokemon brilliant diamond WebQuestion: The adjusting entry to record the amortization of a discount on bonds payable is a. debit Discount on Bonds Payable, credit Interest Expense b. debit Interest Expense, credit Cash c. debit Bonds Payable, credit Interest Expense d. WebAccounting questions and answers. The adjusting entry to record the amortization of a discount on bonds payable is a.debit Bonds Payable, credit Interest Expense b.debit … 3x spicy noodles near me WebJun 9, 2024 · The debit to the Interest Expense increases the Interest Expense (coupon interest) by the amortized discount for the period while the credit to the Discount on …

WebApr 4, 2024 · The entry to record the amortization of a discount on bonds payable is: a. debit Bonds Payable; credit Interest Expense b. debit Interest Expense; credit Discount … 3x spicy noodles price in bangladesh WebA bond payable is just a promise to pay a series of payments over time (the interest component) and a fixed amount at maturity (the face amount). Thus, it is a blend of an annuity (the interest) and lump sum payment (the … 3x spicy noodles calories