Question
(A) Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $3,300,000, 11%, 4-year bond that pays semiannual
(A) Issuing Bonds at a Discount
On the first day of the fiscal year, a company issues a $3,300,000, 11%, 4-year bond that pays semiannual interest of $181,500 ($3,300,000 11% ), receiving cash of $3,197,537.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank. (B)
Issuing Bonds at a Premium
On the first day of the fiscal year, a company issues an $3,100,000, 7%, 9-year bond that pays semiannual interest of $108,500 ($3,100,000 7% ), receiving cash of $3,313,179.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
Part B is formatted similarly but I could not get the picture to upload so please make a table for it.
Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $3,300,000, 11%, 4-year bond that pays semiannual interest of $181,500 ($3,300,000 x 11% x 1/2), receiving cash of $3,197,537. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds PayableStep by Step Solution
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