Quizzes> Unit 3 Content Assessment Content Assessment 9 at 3:23pm nstructions r

Question

Quizzes> Unit 3 Content Assessment Content Assessment 9 at 3:23pm nstructions r Question 13 2 pts Salt Lake Glassware Company issues $1,022,000 of its 996, 10-year bonds at 96 on February 28, 2017. The bonds pay interest on February 28 and August 31. Assume that Salt Lake uses the straight- line method for amortization. The journal entry to record the first interest payment on August 31, 2017 includes a (Round any intermediate calculations and your final answer to the nearest dollar.) O debit to Interest Expense for $43,946 O debit to Discount on Bonds Payable for $2.044 O debit to Cash for $45,990 O debit to Interest Expense for $48.034 . Previous Next No new data to save. Last checked at 4:22pm Submit Quiz ons are seady for une ut

Explanation / Answer

Answer is OPTION D

The journal entry will be

Interest expense account. 48034

To cash 45990

To discount. 2044

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