Refunding bonds were issued by an Enterprise Fund with a face ...

[abern]

Refunding bonds were issued by an Enterprise Fund with a face value of 15,000,000 at a 1 discount. Issuance costs were 225,000 . The entry to record the issuance of the refunding bonds would be
   Debit Credit
 
  A. Cash
  Expenditures
  Other Financing Uses  Discount
   Other Financing Sources  Bonds 14,625,000
  225,000
  150,000
 
  15,000,000
  B. Cash
  Expenditures
   Other Financing Sources  Bonds 14,625,000
  225,000
 
  14,850,000
  C. Cash
  Unamortized Deferred Charges/Discount
   Bond Payable 14,625,000
  375,000
 
  15,000,000
  D. Cash
  Bond Issuance Expense
  Unamortized Discount
   Bonds Payable 14,625,000
  225,000
  150,000
 
  15,000,000

Question 2

Deferrals are recorded transactions that delay the recognition of an expense or revenue.
 a. True
  b. False
 
   Indicate whether the statement is true or false

[leannegxo]

Answer to Question 1

D

Answer to Question 2

True