What company record at time of first semi-annual interest, Accounting Basics

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What company record at time of first semi-annual interest

Question: Suppose a company issues $500,000 of 4% bonds, due in 5 years, with interest payable semiannually. The bonds are issued at face amount. What would the company record at the time of the first semi-annual interest payment? Multiple Choice Debit Bonds Payable $20,000; credit Cash $20,000. Debit Interest Expense $20,000; credit Cash $20,000. Debit Interest Expense $10,000; credit Cash $10,000. Debit Bonds Payable $10,000; credit Cash $10,000.

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Accounting Basics: What company record at time of first semi-annual interest

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