A company issues a $10,000,000, 11%, five-year bond that pays semiannual interest of $550,000 ($10,000,000 11%

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A company issues a $10,000,000, 11%, five-year bond that pays semiannual interest of $550,000 ($10,000,000 × 11% × 1⁄2), receiving cash of $10,386,060 for an effective interest rate of 10%. Journalize the bond issuance.

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Accounting Volume 2

ISBN: 978-0176509743

2nd Canadian edition

Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren

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Question Posted: Dec 15, 2017 08:22 AM

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A company issues a $10,000,000, 11%, five-year bond that pays semiannual interest of $550,000 ($10,000,000 11%

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Accounting Volume 2

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