Sunland Inc. issues $250,000, 10-year, 9% bonds at 97. Prepare the journal entry to record the sale of these bonds on March 1, 2020.

Dr Cash 242,500

Dr Discount on Bond 7500

Cr Bonds Payable 250,000

Explanation:

Preparation of the journal entry to record the sale of these bonds on March 1, 2020.

Based on the information given we were told that the company issues the amount of $250,000 that include 10-year, 9% bonds at 97 which means that the journal entry to record the sale of these bonds on March 1, 2020 will be

March 1

Dr Cash 242,500

(250,000*.97)

Dr Discount on Bond 7,500

(250,000-542,500)

Cr Bonds Payable 250,000

answer; consideration;

-the personal ownership of property

-the influence of consumer demand

explanation:

the command economy prohibits the personal ownership of property.

basically, command economy is defined as the system where a nation’s government is the one that makes all the decisions when it comes to its economy. the government is the one who controls the production of goods and services and regulates the prices and salaries.

therefore, since that the government is the authority, then all kinds of personal ownership of property is prohibited by them.