On the first day of the fiscal year, a company issues a $1,500,000, 9%, five-year bond that

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On the first day of the fiscal year, a company issues a $1,500,000, 9%, five-year bond that pays semiannual interest of $67,500 ($1, 500,000 × 9% × ½ ), receiving cash of $1,334,398. Journalize the bond issuance.

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Accounting

ISBN: 9780538475006

24th Edition

Authors: Carl S Warren, James M Reeve, Jonathan Duchac

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Question Posted: Oct 14, 2011 05:55 AM

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On the first day of the fiscal year, a company issues a $1,500,000, 9%, five-year bond that

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