Blossom Electric sold $3,800,000, 8%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually on January 1. Blossom Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2020.

Dr cash $3 914 000 Cr bond premium $114 000 cr Bonds payable $3800000

Explanation:

Bond sold at a premium

$3800000(103%)=$3 914 000

Bond premium =Bond sold at Premium-Par value bonds

                          $3 914 000-$3 800 00=$114 000

then the par value bond =$3800000

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hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi