Wishaw, Inc. produces and sells outdoor equipment. On July 1, 2014, Wishaw, Inc. issued $150,000,000 of 20-year, 12% bonds at a market (effective) interest rate of 9%, receiving cash of $191,403,720. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.















1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 2014.


Cash 150000000
discount on bonds payable 41403720
bonds payable 191403720

Your cash amount is $191,403,720 and your bonds payable amount should be $150,000,000

Your cash amount is $191,403,720 and your bonds payable amount should be $150,000,000

OK so I had that backwards thank you for your help