Date General Journal Debit Credit
Jan. 1 Cash 507959
Discount on bonds payable 72041
Bonds payable 580000
Total bond interest expense over life of bonds:
Amount repaid:
8 payments of $23200 185600
Par value at maturity 580000
Total repaid 765600
Less amount borrowed 507959
Total bond interest expense 257641
An expense is an object requiring an outflow of money, or any shape of fortune in fashionable, to every other character or group as fee for an object, carrier, or other class of prices. For a tenant, lease is an rate. for college kids or dad and mom, tuition is an price. buying food, apparel, furnishings, or an automobile is regularly called an price. An cost is a value that is "paid" or "remitted", commonly in change for some thing of value. something that appears to cost a first-rate deal is "costly". something that appears to fee little is "less expensive". "expenses of the desk" are fees for dining, refreshments, a dinner party, and so forth.
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