Question
Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $4,600,000, 7%, 10-year bond that pays semiannual interest
Issuing Bonds at a Discount
On the first day of the fiscal year, a company issues a $4,600,000, 7%, 10-year bond that pays semiannual interest of $161,000 ($4,600,000 7% ), receiving cash of $3,740,109.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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The Internal Auditing Handbook
Authors: K. H. Spencer Pickett
2nd Edition
0470848634, 978-0470848630
