10 fast questions

higher when bonds sell at a discount.

lower when bonds sell at a premium.

the same whether bonds sell at a discount or a premium.

higher when bonds sell at a discount and lower when bonds sell at a premium.

$240,450.

$204,050.

$200,450.

$204,500.

$15,080

$16,000

$17,150

$14,850

$200,000

$190,800

$197,700

$189,650

gain on bond redemption of $18,000.

loss on bond redemption of $12,000.

loss on bond redemption of $18,000.

gain on bond redemption of $4,000.

Bonds Payable for $150,000.

Bonds Payable for $135,000.

Discount on Bonds Payable for $15,000.

Bonds Payable equal to the market price of the bonds on the date of conversion.

issue the bonds.

keep a record of each bondholder.

hold conditional title to pledged property.

maintain custody of unsold bonds.

credit of $10,040 to Loss on Bond Redemption.

debit of $10,040 to Loss on Bond Redemption.

credit of $10,040 to Premium on Bonds Payable.

debit of $40,000 to Premium on Bonds Payable.

debit to Cash of $3,000,000.

credit to Discount on Bonds Payable for $60,000.

credit to Bonds Payable for $3,040,000.

debit to Cash for $2,960,000.