The journal entry includes Debit to cash of $110,000, Credit to bonds payable of $100,000, Credit to premium on bonds payable of $10,000
A journal entry is the act of recording any transaction, whether one that is economic or not. An accounting diary that displays the debit and credit balances of a corporation lists transactions. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.
Depreciation or bond amortisation are examples of recurring items that can be recorded in journal entries. Accounts payable normally has its own subledger that indirectly impacts the general ledger, and journal entries are frequently filed using a different module in accounting software.
- Debit to cash of $110,000
- Credit to bonds payable of $100,000
- Credit to premium on bonds payable of $10,000
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