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When a bond issued at face value is retired what is the journal entry A. Debit bond interest expense; credit cash B. Debit bonds payable; credit cash C. Debit cash; credit bonds payable D. Debit cash;
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When a bond issued at face value is retired what is the journal entry

A. Debit bond interest expense; credit cash
B. Debit bonds payable; credit cash
C. Debit cash; credit bonds payable
D. Debit cash; credit bond interest expense

User Thami Bouchnafa
by
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1 Answer

2 votes
credit the "bond payable" liability account for the total face value of the bonds and debit cash for the same amount.


User Mihai Chintoanu
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8.1k points
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