On January 2, 20X1, Hauser Company issues $2 million face amount, 10-year bonds. Issue costs associated with these bonds are $100,000. How are the issue costs accounted for

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31-05-2022
Business

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On January 2, 20X1, Hauser Company issues $2 million face amount, 10-year bonds. Issue costs associated with these bonds are $100,000. How are the issue costs accounted for

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chilljain33 chilljain33 · Answer 1 · 2022-06-14T09:22:20+02:00

The bonds issue costs of Hauser Company amounting to $100,000 will be debited while recording in the journal entry; whereas, the bonds payable account will be credited.

What is a journal entry?

The systematic recording of accounting transactions in the journal books of a business organization, in a chronological manner, is known as a journal entry.

Hence, the significance of the journal entry is given above.

Learn more about a journal entry here:

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