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Ward Corporation Issues 5,000, 10-Year, 8%, $1,000 Bonds Dated January

Question 48

Multiple Choice

Ward Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2015, at 103. The journal entry to record the issuance will show a


A) debit to Cash of $5,000,000.
B) credit to Premium on Bonds Payable for $150,000.
C) credit to Bonds Payable for $5,030,000.
D) credit to Cash for $5,150,000.

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