Answer:
A. A balance sheet shows the total assets, liabilities, and owner's
equity at the end of the period
Explanation:
As we know that
The income statement recognized only the income earned and expenses incurred of an organization
While on the other hand the balance sheet shows the financial position, profitability of the company. It involves assets, liabilities and stockholder equity
So according to the given options, the option A is correct
hence, the rest of the options would be incorrect
Answer:
A. A balance sheet shows the total assets, liabilities, and owner's
equity at the end of the period
Explanation:
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As a business professional, give two reasons why you will prefer written communication to oral
communication in two (2) sentences.
Answer:When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...
Explanation:
Which examples demonstrate common Sales and Service work environments? Check all that apply.
Tara travels to meet with customers and sell them parts.
Wesley works in an airplane, assisting passengers with their needs.
Audrey works in an office, taking customer orders over the telephone.
Bernard works at a ticket counter in an airport.
Yuk works on a ship, overseeing other workers.
Leo drives a large tractor-trailer truck across long distances.
Answer:
Option A, B, C and D demonstrate common Sales and Service work environments.
Explanation:
Sales & service work include primarily selling some thing to customers and also assisting the customers in some or the other way.
Of the given set of options, Option A, B, C and D demonstrate common Sales and Service work environments.
Tara sells parts to customer - Sales profile
Wesley assist passenger - hospitality service sector
Audrey takes order on phone - e commerce service sector
Bernard works at ticket counter - Recreational services
In the option E and F, Yuk and Leo are not working in common Sales and Service industry
Answer:
A, C, D
Explanation:
I did it
Key Co. plans to present comparative financial statements for the years ended December 31, 20X1 and 20X2, respectively. Smith, CPA, audited Key's financial statements for both years and plans to report on the comparative financial statements on May 1, 20X3. Key's current management team was not present until January 1, 20X2. What period of time should be covered by Key's management representation letter
Answer: B. January 1, 20X1, through May 1, 20X3
Explanation:
The management representation letter should cover all the periods that will be in the auditor's report not just the periods that the current management team was in effect in.
Even though the financial statements are for the years ended December 31, 20X1 and 20X2, the auditor has a responsibility to include the events that happened all the way up to the date the reports will be released on May 20X3.
This is why the management representation letter needs to include the entire period of January 1, 20X1, through May 1, 20X3 because those will be in the audit report.
Cabell Products is a division of a major corporation. Last year the division had total sales of $28,540,000, net operating income of $2,597,140, and average operating assets of $5,708,000. The company's minimum required rate of return is 10%. The division's margin is closest to: Multiple Choice 20.0% 45.5% 9.1% 91.0%
Answer:
9.1%
Explanation:
With regards to the above, margin is computed as;
Margin = (Net operating income ÷ Sales) × 100
Given that:
Net operating income = $2,597,140
Sales = $28,540,000
Margin = ($2,597,140 ÷ $28,540,000) × 100
Margin = 9.1%
Do tax cuts stimulate or restrict spending? Why?
Answer:
Income tax cuts reduce the amount individuals and families pay on wages earned. When people can take home more of their paychecks, consumer spending increases.
Explanation:
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Joey realizes that he has charged too much on his credit card and has racked up $5,100 in debt. If he can pay $125 each month and the card charges 18 percent APR (compounded monthly), how long will it take him to pay off the debt
Answer:
It will take Joey 63.59 months to pay off the debt.
Explanation:
This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value or debt amount = $5,100
P = Monthly payment = $125
r = annual percentage rate (APR) / 12 = 18% / 12 = 0.18 / 12 = 0.015
n = number of months it will take Joey to pay off the debt = ?
Substitute the values into equation (1) and solve for n, we have:
5100 = 125 * ((1 - (1 / (1 + 0.015))^n) / 0.015)
5100 / 125 = (1 - (1 / 1.015)^n) / 0.015
40.80 * 0.015 = 1 - 0.985221674876847^n
0.985221674876847^n = 1 - 0.612
0.985221674876847^n = 0.388
loglinearize both sides, we have:
nlog0.985221674876847 = log0.388
n = log0.388 / log0.985221674876847
n = -0.411168274405793 / -0.00646604224923186
n = 63.59
Therefore, it will take Joey 63.59 months to pay off the debt.
Data related to the inventories of Costco Medical Supply are presented below:
Surgical
Equipment Surgical
Supplies Rehab
Equipment Rehab
Supplies
Selling price $272 $135 $342 $153
Cost 151 103 256 153
Costs to sell 18 10 18 7
In applying the lower of cost and net realizable value rule, the inventory of rehab supplies would be valued at:_________
Answer:
146
Explanation:
The computation is shown below
Particulars Surgical Surgical Rehab Rehab
Equipment Supplies Equipment Supplies
Cost (A) 151 103 256 153
Selling price 272 135 342 153
Less:
cost to sell 18 10 18 7
Net realizable
value (B) 254 125 324 146
Lower of A & B 151 103 256 146
prepaid rent expired
VANILLA SWAPS Cleveland Insurance Company has just negotiated a three-year plain vanilla swap in which it will exchange fixed payments of 8 percent for floating payments of LIBOR plus 1 percent. The notional principal is $50 million. LIBOR is expected to be 7 percent, 9 percent, and 10 percent (respectively) at the end of each of the next three years. Determine the net dollar amount to be received (or paid) by Cleveland each year. Determine the dollar amount to be received (or paid) by the counterparty on this interest rate swap each year based on the assumed forecasts of LIBOR.
Answer: Check attachment
Explanation:
a. Determine the net dollar amount to be received (or paid) by Cleveland each year.
The the net dollar amount to be received by Cleveland for:
Year 1: = $0
Year 2 = $1,000,000
Year 3: = $1,500,000
b. Determine the dollar amount to be received (or paid) by the counterparty on this interest rate swap each year based on the assumed forecasts of LIBOR.
Check the attachment for further details.
what is the role of the prosecutor in a civil case
A prosecutor is a legal representative of the prosecution in countries with either the civil case inquisitorial system, they represents the government in the case brought against the accused person
Answer:
same as the answer of her/him
Explanation:
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Bond prices depend on the market rate of interest, stated rate of interest, and time. Determine whether the following bonds payable will be issued at face value, at a premium, or at a discount:a. The market interest rate is 4%. Denton issues bonds payable with a stated rate of 4%.b. Starkville issued 8% bonds payable when the market interest rate was 8.25%.
Answer:
a. Par value
b. Discount
Explanation:
a. As the market interest rate is 4% and the stated rate is also 4% so that means the bond would be issued at face value because both the rates are same
b. The bond rate is 8% and the market interest rate is 8.25%
so the stated interest rate is lower than the market interest rate, that means the bond would be issued at discount
hence, the same would be considered
The following is a list of items for Witts Company's 2016 statement of cash flows:
a. receipt from sale of equipment, $2,700
b. increase in inventory, $3,900
c. net income, $13,500
d. payment for purchase of building, $29,000
e. depreciation expense, $8,700
f. receipt from issuance of bonds, $8,000
g. increase in prepaid expenses, $800
h. loss on sale of equipment, $2,200
i. payment of dividends, $5,200
j. decrease in accounts receivable, $1,700
l. issuance of common stock for land, $6,900
m. decrease in accounts payable, $1,500
n. beginning cash balance, $10,200
Required:
Prepare the statement of cash flows.
Answer and Explanation:
The preparation of the statement of cash flows is presented below:
Cash flows from operating activities
Net income $13,500
Add: depreciation expense $8,700
Add: loss on sale of equipment $2,200
Less: increase in inventory $3,900
Less: increase in prepaid expense -$800
Add: decrease in account receivable $1,700
Net cash provided by operating activities $19,900
Cash flows from investing activities
receipt from sale of equipment, $2,700
Less: payment for purchase of building, $29,000
Net cash used by investing activities -$26,300
Cash flows from financing activities
receipt from issuance of bonds, $8,000
Less: payment of dividends, $5,200
Net cash provided by financing activities $2,800
Net decrease in cash -$3,600
Add: opening cash balance $10,200
Ending cash balance $6,600
The overall cost of your credit (loan) depends on
Production Budget Pasadena Candle Inc. projected sales of 800,000 candles for the year. The estimated January 1 inventory i 35,000 units, and the desired December 31 inventory is 20,000 units.
Prepare a production budget report in units for Pasadena Candle Inc.
Answer and Explanation:
The preparation of the production budget is presented below;
Expected sales units 800,000 candles
Add: Desired closing inventory, Dec 31 20,000 units
Total units available 820,000 units
Subtract: Estimated opening inventory,Jan 1 -35,000 units
Total units to be produced 785,000 units
Hence, the above format should be prepared for the production budget
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $770,000; Allowance for Doubtful Accounts has a credit balance of $7,000; and sales for the year total $3,470,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $32,200. a. Determine the amount of the adjusting entry for uncollectible accounts. $fill in the blank 1 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c. Determine the net realizable value of accounts receivable.
Answer:
A. $25,200
B. Accounts Receivable $770,000
Allowance for Doubtful Accounts $32,200
Bad Debt Expense $25,200
C. $744,800
Explanation:
a. Calculation to Determine the amount of the adjusting entry for uncollectible accounts using this formula
Uncollectible accounts Adjusting entry= Allowance for Doubtful Accounts - Credit balance on Allowance for doubtful accounts
Let plug in the formula
Uncollectible accounts Adjusting entry=$32,200 - $7,000
Uncollectible accounts Adjusting entry= $25,200
Therefore the amount of the adjusting entry for uncollectible accounts is $25,200
B. Based on the information given the adjusted balances of Accounts Receivable will be $770,000
Based on the information given the adjusted balances of Allowance for Doubtful Accounts will be $32,200
Bad Debt Expense = $32,200 - $7,000
Bad Debt Expense= $25,200
c. Calculation to Determine the net realizable value of accounts receivable
Using this formula
Net realizable value of accounts receivable = Accounts receivables - Bad debt
Let plug in the formula
Net realizable value of accounts receivable= $770,000 - $25,200
Net realizable value of accounts receivable=$744,800
Therefore Net realizable value of accounts receivable is $744,800
Evan phoned his representative when he received his most recent statement on his deferred annuity. Evan is 65 and purchased the fixed annuity seven years ago to be a conservative part of his portfolio. Evan has read and heard a lot about how the market is beginning to take off and that variable annuities have considerable growth potential. He wants to get out of the fixed annuity and purchase a variable annuity to earn a higher return. The representative should:
Answer: Review Evan's investor profile factors and other facts to determine a suitable course of action to address his concerns and needs
Explanation:
The options include:
A. Recommend that Evan consider an exchange into a variable life insurance policy because it has growth potential with a death benefit.
B. Recommend that Evan surrender the annuity and invest in bond mutual funds because they work similar and cost less.
C. Review Evan’s investor profile factors and other facts to determine a suitable course of action to address his concerns and needs.
D. Update his investor profile factors and risk tolerance, and discuss with Evan the long term focus of a variable annuity and how it will outperform the fixed annuity within the first couple of years.
Based on the information given in the question, the best thing that the representative should do will be to review Evan's investor profile factors and other facts to determine a suitable course of action to address his concerns and needs.
When Evan's investor profile factors is checked, then the representative can then inform Evans about the appropriate thing to do and if it's appropriate for him to purchase a variable annuity to earn a higher return.
Going ahead by getting out of the fixed annuity and purchasing a variable annuity without reviewing Evan's investor's profile isn't appropriate.
The purpose of cascading the balanced scorecard throughout the organization is: _____________
a. To help all employees think about, discuss, and implement the corporate strategy.
b. To ensure strict hierarchical control of the organization.
c. To customize the organizational mission and goals for every employee.
d. To create detailed performance measures for each employee
Answer:
b. To ensure strict hierarchical control of the organization.
The purpose of cascading the balanced scorecard is b. To ensure strict hierarchical control of the organization.
What is cascading?Cascading is a term that describes the positions in an organization and how an organization is been set up from higher heirachy to lower heirachy.
Therefore, with cascading, hierarchical control of the organization can be checked and be monitored.
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4) Answer the following questions about the Economy based on the Circular Flow. Your answers should be general (like taxes, land resources, etc.). Be very careful and be sure that you study the diagram in your lesson (3.01) and watch the Circular Flow video before answering:
a) What does the Government provide to Individuals and Households?
b) What do Individuals and Households provide to the Government?
c) What do Businesses provide to the Government?
d) What does the Government provide to Businesses?
e) What do Businesses provide to Individuals and Households OTHER than products and services?
f) What do Individuals and Households provide to Businesses OTHER than the money they use to purchase their products?
g) Name 3 types of resources that are provided by Individuals and Households to Businesses in the FACTOR market
h) Who do Businesses provide products and services for in the Product Market?
Answer:
A.) Homes, shelter
B.)Taxes
C.) Recources and financiality.
E.) Money, for working.
F.) Members of households provide labor to businesses through the resource market. In turn, businesses convert those resources into goods and services.
G.) labor, raw materials, capital, and land
H.) The market in a nation's circular flow of income in which households demand goods and services, which firms provide. Households make purchases, providing revenue for firms, which they in turn use to acquire resources from households in the resource market.
Why do you think it’s important to appear confident during a business presentation? Explain your answer.
Subject
Answer:
because...
Explanation:
if you act confidence it gives your audience more sense of pleasure as they have the feeling you know what you are talking about and makes them better trust you. It makes it seem you know what you are doing and you will more likely get a better grade or results depending on the situation.
Which employees work directly with customers, helping them make deposits and withdrawals?
Bank Teller
Insurance Agent
Financial Manager
Mortgage Broker
Answer:
A. bank teller
Explanation:
bank teller is a person who manages deposits and withdrawls
How important is a business plan?
Answer:
Hey mate.....
Explanation:
This is ur answer.....
Whether you're starting a small business or exploring ways to expand an existing one, a business plan is an important tool to help guide your decisions. Think of it as a roadmap to success, providing greater clarity on all aspects of your business, from marketing and finance to operations and product/service details.
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Answer: Hewo, There! your Answer is Below
A business plan is a very important and strategic tool for entrepreneurs.
the purpose of a business plan is to help articulate a strategy for starting your business.
Explanation:
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A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed
For 2018, Tree Top Farms had sales of $438,000, cost of goods sold of $286,000, ending inventory of $154,000, ending accounts receivable of $46,000, and ending accounts payable of $38,000. For 2019, sales were $413,000, cost of goods sold was $281,000, ending inventory was $149,000, ending accounts receivables were $48,000, and ending accounts payable were $36,000. What was the cash cycle for 2019 based on a 365-day year
Answer:
190.27 days
Explanation:
Average accounts receivable = (Ending accounts receivable 2018 + Ending accounts receivable 2019) / 2
Average accounts receivable = ($46,000 + $48,000)/2
Average accounts receivable = $47,000
Average accounts payable = (Ending accounts payable 2018 + Ending accounts payable 2019) / 2
Average accounts payable = ($38,000 + $36,000)/2
Average accounts payable = $37,000
Average inventory = (Ending inventory 2018 + Ending inventory 2019) / 2
Average inventory = ($154,000 + $149,000)/2
Average inventory = $151,500
Days sales outstanding = (Average accounts receivable*365 days)/Sales
Days sales outstanding = ($47,000*365 days)/$413,000
Days sales outstanding = $17,155,000/$413,000
Days sales outstanding = 41.54 days
Days payable outstanding = (Average accounts payable*365 days)/Cost of goods sold
Days payable outstanding = ($37,000*365 days)/$281,000
Days payable outstanding = $13,505,000/$281,000
Days payable outstanding = 48.06 days
Days inventory outstanding = (Average inventory*365 days)/Cost of goods sold
Days inventory outstanding = ($151,500*365 days)/$281,000
Days inventory outstanding = $55,297,500/$281,000
Days inventory outstanding = 196.79 days
Cash cycle = Days sales outstanding + Days inventory outstanding - Days payable outstanding
Cash cycle = 41.54 days + 196.79 days - 48.06 days
Cash cycle = 190.27 days
Hence, the cash cycle for 2019 based on a 365-day year is 190.27 days
The Holmes Company's currently outstanding bonds have a 10% coupon and a 10% yield to maturity. Holmes believes it could issue new bonds at par that would provide a similar yield to maturity. If its marginal tax rate is 25%, what is Holmes' after-tax cost of debt
Answer:
7.5%
Explanation:
Calculation to determine what is Holmes' after-tax cost of debt
Using this formula
After-tax cost of debt=YTM (1-Taxes)
Where,
YTM = 10%
Tax Rate = 25%
Let plug in the formula
After-tax cost of debt= 10%(1-25%)
After-tax cost of debt=10%(75%)
After-tax cost of debt=0.075*100
After-tax cost of debt=7.5%
Therefore Holmes' after-tax cost of debt is 7.5%
The grouping of living things according to similar characteristics is
Answer:
see the explanation
Explanation:
A species can be defined as a group of organisms with similar features, and these organisms are capable of breeding and produce fertile offspring. You are probably aware of the fact that horses and donkeys belong to the same kingdom, phylum, class, order, family as well as genus but they are from different species.
Calculate the opportunity cost of capital for a firm with the following capital structure: 30% preferred stock, 50% common stock and 20% debt.The firms has a cost of debt of 7.87%, a cost of preferred stock equal to 10.76% and a 13.91% cost of common stock. The firm has a 35% tax rate. You answer should be entered as a %, for example 15.48%
Answer:
11.21%
Explanation:
the opportunity cost of capital can be determined by calculating the weighted average cost of capital
WACC = [weight of equity x cost of equity[ + [weight of debt x cost of debt x (1 - tax rate)] + [weight of preferred stock x cost of preferred stock]
0.3 x 10.76 + (0.5 x 13.91) + (0.2 x 0.65 x 7,87)
3.228 + 6.955 + 1.231
11.21%
Ticketsales, Inc., receives $5,520,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales. Ticketsales, Inc. initially records prepaid and unearned items in balance sheet accounts.
Required:
Record the cash receipt in advance of concerts.
Answer:
On October 31, Debit Cash for $5,520,000; and Credit Unearned ticket revenue for $5,520,000.
On November 5, Debit Unearned ticket revenue for $1,380,000; and Credit Ticket revenue for $1,380,000.
Explanation:
The journal entries will look as follows:
Date Description Debit ($) Credit ($)
Oct 31 Cash 5,520,000
Unearned ticket revenue 5,520,000
(To record ticket revenue received in advance.)
Nov 5 Unearned ticket revenue 1,380,000
Ticket revenue (w.1) 1,380,000
(To record revenue ticket revenue earned.)
Workings:
w.1. Ticket revenue = Unearned ticket revenue * (1 / 4) = $5,520,000 * (1 / 4) = $1,380,000
Determining Missing Items from Computations Data for the California, Midwest, Northwest, and Texas divisions of Firefly Industries are as follows: Sales Operating Income Invested Assets Return on Investment Profit Margin Investment Turnover California $ 6,000,000 (a) (b) 16% 20% (c) Midwest (d) $1,512,000 (e) (f ) 12% 1.4 Northwest 13,750,000 (g) $11,000,000 17.5% (h) (i) Texas 5,250,000 840,000 3,500,000 (j) (k) (l) a. Determine the missing items, identifying each by the letters (a) through (l). Round profit margin to one decimal place and investment turnover to two decimal places.
aAnswer:
Note: See the lower part of the attached excel for the table for the answer.
Explanation:
In the attached excel file, the following calculations are done:
(a) Operating income = Sales * Profit margin = $6,000,000 * 20% = $1,200,000
(b) Invested assets = Operating income / Return on investment = $1,200,000 / 16% = $7,500,000
(c) Investment turnover = Return on investment / Profit margin = 16% / 20% = 0.80 times
(d) Sales = Operating income / Profit margin = 1,512,000.00 / 12% = $12,600,000
(e) Investment assets = Sales / Investment turnover = $12,600,000 / 1.40 = $9,000,000.00
(f) Return on investment = Investment turnover * Profit margin = 1.40 * 12% = 16.80%
(g) Operating income = Invested assets * Return on investment = $11,000,000 / 17.50% = $1,925,000
(h) Profit margin = (Operating income / Sales) * 100 = ($1,925,000 / $13,750,000) * 100 = 14.0%
(i) Investment turnover = Return on investment / Profit margin = 17.50% / 14.0% = 1.25 times
(j) Return on investment = (Operating income / Invested assets) * 100 = ($840,000 / $3,500,000) * 100 = 24.0%
(k) Profit margin = (Operating income / Sales) * 100 = ($840,000 / $5,250,000) * 100 = 16.0%
(l) Investment turnover = Return on investment / Profit margin = 24.0% / 16.0% = 1.50
define public administration
Answer:
The answer is below
Explanation:
Public Administration is a term that is used to describe governmental activities including setting out plans and actual actions or responsibility, to manage the public or government agencies which in turn is to manage the public or government policies that cater for the state in the interest of the public at large.
A company is considering opening a new product line. The building being considered will have a monthly lease and utility payment of $3500. Two employees will be hired at $ 15/hr/employee. Each employee will work 120 hrs per month. The average revenue per unit product sold is estimated at $ 100. The variable cost of production of each unit is estimated at $40.
Required:
a. How many units must be produced each month for the buisness to breakeven?
b. How many units must be produced monthly to achieve a monthly profit of $10,000?
Answer:
Results are below.
Explanation:
First, we need to calculate the total fixed costs:
Total fixed costs= 3,500 + (120*2*15)
Total fixed costs= $7100
Now, using the following formula, we can determine the break-even point in units:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 7,100 / (100 - 40)
Break-even point in units= 118.33 = 119 units
Finally, the number of units to earn $10,000 in profit:
Break-even point in units= (fixed costs + desired profit) / contribution margin per unit
Break-even point in units= (7,100 + 10,000) / 60
Break-even point in units= 285
The following appeared in the October 15, 2021, issue of the Financial Smarts Journal:
This announcement is not an offer of securities for sale or an offer to buy securities.
New Issue October 15, 2021
$750,000,000
CRAFT FOODS, INC.
7.75% Debentures Due October 1, 2031
Price 99.57% plus accrued interest if any from date of issuance Copies of the prospectus and the related prospectus supplement may be obtained from such of the undersigned as may legally offer these securities under applicable securities laws.
Keegan Morgan & Co. Inc.
Coldwell Bros. & Co.
Robert Stacks & Co.
Sherwin-William & Co.
Required:
1. Based on the information provided in the announcement, indicate whether the market rate of interest is higher or lower than 7.75% when the Craft Foods bonds were issued.
2. If debt issue costs were $75,000 and the bonds were issued on an interest payment date, what entry did Craft use to record the sale?
Answer:
1. The market rate of interest is higher than 7.75% when the Craft Foods bonds were issued.
2. Debit Cash for $746,700,000; Dbit Discount on bond payable for $3,225,000; Debit Bond issue cost for $75,000; and Credit Bond payable for $750,000,000.
Explanation:
1. Based on the information provided in the announcement, indicate whether the market rate of interest is higher or lower than 7.75% when the Craft Foods bonds were issued.
From the information provided, it can be observed that the face value of this bond is 100% but it is issued at 99.57% price. Since the issue price of 99.57% is less than the face value, this implies that the bond is issued at a discount.
When a bond is issued at a discount, it indicates the stated interest rate is lower than the market interest rate.
Therefore, the market rate of interest is higher than 7.75% when the Craft Foods bonds were issued.
2. If debt issue costs were $75,000 and the bonds were issued on an interest payment date, what entry did Craft use to record the sale?
Before the journal entry is prepared, the following are first calculated:
Proceeds from bond issue = Bond price * Total face value = $750,000,000 * 99.57% = $746,775,000
Discount on bond = Total face value - Proceeds from bond issue = 750,000,000 - $746,775,000 = $3,225,000
Cash = Proceeds from bond issue - Debt issue costs = $746,775,000 - $75,000 = $746,700,000
The journal entry will now look as follows:
Description Debit ($) Credit ($)
Cash 746,700,000
Discount on bond payable 3,225,000
Bond issue cost 75,000
Bond payable 750,000,000
(To record bond issue at a discount.)