Question : 31) The journal entry to record $200,000 of bonds that : 1232344

31) The journal entry to record $200,000 of bonds that were issued at 97 would be to:

A) debit Cash, $194,000; debit Discount on bonds payable, $6,000; credit Bonds payable, $200,000.

B) debit Cash, $194,000; credit Bonds payable, $194,000.

C) debit Cash, $200,000; credit Bonds payable, $194,000; credit Premium on bonds payable, $6,000.

D) debit Cash, $200,000; credit Bonds payable, $200,000.

32) The journal entry to record $300,000 of bonds that were issued at 107 would be to:

A) debit Cash, $321,000; credit Bonds payable, $321,000.

B) debit Cash, $321,000; credit Bonds payable, $300,000; credit Premium on bonds payable, $21,000.

C) debit Cash, $300,000; credit Bonds payable, $300,000.

D) debit Cash, $300,000; debit Discount on bonds payable, $21,000; credit Bonds payable, $321,000.

33) The journal entry to record $300,000 of bonds that were issued at 95 would be to:

A) debit Cash, $300,000; credit Bonds payable, $285,000; credit Premium on bonds payable, $15,000.

B) debit Cash, $285,000; credit Bonds payable, $285,000.

C) debit Cash, $300,000; credit Bonds payable, $300,000.

D) debit Cash, $285,000; debit Discount on bonds payable, $15,000; credit Bonds payable, $300,000.

34) $300,000 of 10%, 20-year bonds were sold for $320,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $15,000; credit Cash, $15,000.

B) debit Interest expense $15,500; credit Premium on bonds payable, $500; credit Cash, $15,000.

C) debit Interest expense $14,500; debit Premium on bonds payable, $500; credit Cash, $15,000.

D) debit Interest expense $14,500; credit Cash, $14,500.

35) $500,000 of 8%, 10-year bonds were sold for $530,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $18,500; debit Premium on bonds payable, $1,500; credit Cash, $20,000.

B) debit Interest expense $18,500; credit Cash, $18,500.

C) debit Interest expense $21,500; credit Premium on bonds payable, $1,500; credit Cash, $20,000.

D) debit Interest expense $20,000; credit Cash, $20,000.

36) $200,000 of 6%, 25-year bonds were sold for $190,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $6,000; credit Cash, $6,000.

B) debit Interest expense $6,200; credit Discount on bonds payable, $200; credit Cash, $6,000.

C) debit Interest expense $5,800; debit Discount on bonds payable, $200; credit Cash, $6,000.

D) debit Interest expense $6,200; credit Cash, $6,200.

37) $400,000 of 12%, 10-year bonds were sold for $380,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:

A) debit Interest expense $24,000; credit Cash, $24,000.

B) debit Interest expense $23,000; debit Discount on bonds payable, $1,000; credit Cash, $24,000.

C) debit Interest expense $25,000; credit Cash, $25,000.

D) debit Interest expense $25,000; credit Discount on bonds payable, $1,000; credit Cash, $24,000.

38) A $250,000 issue of bonds that sold for $275,000 matures on June 25, 2020. The journal entry to record the payment of the bond on the maturity date is to:

A) debit Cash, $250,000; credit Bonds payable, $250,000.

B) debit Bonds payable, $250,000; credit Cash, $250,000.

C) debit Cash, $275,000; credit Bonds payable, $275,000.

D) debit Bonds payable, $275,000; credit Cash, $275,000.

39) A $400,000 issue of bonds that sold for $363,000 matures on August 1, 2015. The journal entry to record the payment of the bond on the maturity date is to:

A) debit Cash, $400,000; credit Bonds payable, $400,000.

B) debit Bonds payable, $400,000; credit Cash, $400,000.

C) debit Cash, $363,000; credit Bonds payable, $363,000.

D) debit Bonds payable, $363,000; credit Cash, $363,000.

40) Bonds payable minus the Discount on bonds payable yields the:

A) maturity value.

B) annual interest.

C) carrying amount.

D) principle amount.