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Business, 31.03.2020 03:06 villarrealc1987

Sugar City issued $2 million of bonds to fund the construction of a new city office building. The bonds have a stated rate of interest of 5 percent and were sold at 101. Which of the following entries should be made in the capital projects fund to record this event? Debit Cash $2.02 million; Credit Bonds payable $2 million and Premium on bonds payable $0.02 million Debit Cash $2.02 million; Credit Bonds payable $2 million and Other financing sources $0.02 million Debit Cash $2.02 million; Credit Other financing sources $2.02 million Debit Cash $2.02 million; Credit Other financing sources $2 million and Revenue $0.02 million

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