On the first day of the fiscal year, a company issues an $8,000,000, 11%, five-year bond that

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On the first day of the fiscal year, a company issues an $8,000,000, 11%, five-year bond that pays semiannual interest of $440,000 ($8,000,000 × 11% × ½), receiving cash of $8,308,869.

Journalize the bond issuance.

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

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

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Question Posted: Feb 28, 2014 08:43 AM

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On the first day of the fiscal year, a company issues an $8,000,000, 11%, five-year bond that

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Corporate Financial Accounting

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