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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,800,000, 8%, 6-year bond that pays semiannual
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,800,000, 8%, 6-year bond that pays semiannual interest of $312,000 ($7,800,000 x8% x 15), receiving cash of $8,576,413, Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Premium on bonds Payable Bonds Payable
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
