The City of Twizzle issues $10,000,000 face value of general obligation bonds for $9,800,000. The bonds will be used for the construction of new city streets. What journal entry should the City make in its Capital Projects Fund to record the issuance of these bonds?

Dr Cash $9,800,000

Dr Other financing use—bond issue discount $200,000

Cr Other financing source—long-term debt issued $10,000,000

Explanation:

Journal entries

Dr Cash $9,800,000

Dr Other financing use—bond issue discount $200,000

Cr Other financing source—long-term debt issued $10,000,000

$10,000,000 -$9,800,000

=$200,000

Therefore since $10,000,000 face value of general obligation bonds for $9,800,000 we are to debit Cash $9,800,000 as well as Other financing use—bond issue discount $200,000 which is the difference between $10,000,000 -$9,800,000 while we credit

Other financing source—long-term debt issued at $10,000,000

The City of Twizzle will debit its Cash/Bank account with $9,800,000 as well as Debit entry of $200,000  for discount on bond account.  The credit enry of $10,000,000 will recorded in the bond account.

Date               Description                            DR                      CR

                    Cash/Bank                            9,800,000

                    Discount on Bonds                   200,000

                    Bond  Payable                                                    10,000,000

Explanation:

all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.

hope this !

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.