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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,900,000, 10%, 9-year bond that pays semiannual interest
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,900,000, 10%, 9-year bond that pays semiannual interest of $295,000 ($5,900,000 x 10 % x 12), receiving cash of $6,258,720. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. 4 Accounts Payable Cash Discount on Bonds Payable Interest Expense Interest Payable Premium on Bonds Payable
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