Ayayai corp. issued 3,200 5%, 5-year, $1,000 bonds dated january 1, 2022, at face value. interest is paid each january 1.
(a) prepare the journal entry to record the sale of these bonds on january 1, 2022.

Explanation:

The journal entry is shown below:

On January 1, 2022

Cash A/c Dr $3,200,000                 (3,200 shares × $1,000)

     To Bonds payable A/c $3,200,000    

(Being the sale of the bond is recorded)

While recording the sale of the bond we debited the cash account as cash is received and credited the bond payable account as bond is sold.

The interest rate is ignored

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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