On Jan. 1, 2006, Jomona Corp, purchased 12% bonds, having a maturity value of $300,000 for 322,744.44. What is the journal entry?

Entry:
Investment in 12 %Bonds 300000
Cash 300000

In case of furthur help email me at >Removed<

BOTH of you need to read our guidelines for posting homework questions:
https://www.askmehelpdesk.com/financ...-b-u-font.html

financequeshelp, that also means you need to follow the guidelines in answering posts. Not to mention your answer is incorrect. We all mess up, but it's such a basic finance question that I have serious doubts about your knowledge in this area.

I also have doubts when you include your email when you're just doing people's homework for them. Looking for business doing homework?

Jan 1, 2006 Invest. In 12% Bond.Jomona Corp 300,000
Premium on bonds payable 22,744.44
Cash 322,744.44




I believe this is the correct journal entry