Author Question: On NOVEMBER 30, 2011, Just in Thyme, Inc. issued 10,000 of 20-year, 9 bonds at 100. The bonds pay ... (Read 100 times)

xroflmao · **on:** Jul 5, 2018

On NOVEMBER 30, 2011, Just in Thyme, Inc. issued 10,000 of 20-year, 9 bonds at 100. The bonds pay interest SEMIANNUALLY on May 31 and November 30. Which of the following will appear on Just in Thyme's balance sheet at December 31, 2011?

A) Bonds payable 10,900
B) Bonds payable 10,000
C) Bonds payable 9,100
D) Interest expense 900

Question 2

Purchases Discounts is a contra-purchases account used to record cash discounts allowed on purchases.
a. True
b. False
Indicate whether the statement is true or false