Module 7 Liability recognition FEFE 2001

Companies that raise funds in the bond market normally work with an ________

The yield on U.S. Government borrowings such as treasury bills, notes, and bonds is known as ____-____ rate

The reduction of the discount and debt issuance over the life of the bond is known as ___________

What is the journal entry for wages accrual?

• Debit: Cash goes down

  Credit: Wages expense goes up

• Debit: Cash goes down

  Credit: Wages payable go up

• Debit: Wages Expense goes up

  Credit: Wages payable goes up

• Debit: Wages payable goes up

  Credit: Wages Expense goes up

What is the journal entry for paying interest on bonds?

• Debit: Cash goes down

  Credit: interest payable goes up

• Debit: interest payable goes down

  Credit: interest expense goes down

• Debit: interest expense goes up

  Credit: cash goes down

• Debit: interest payable goes down

  Credit: cash goes down