Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $6,600,000, 11%, 8-year bond that pays semiannual interest
Issuing Bonds at a Premium
On the first day of the fiscal year, a company issues a $6,600,000, 11%, 8-year bond that pays semiannual interest of $363,000 ($6,600,000 11% ), receiving cash of $6,957,647.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
| Cash | |||
| Premium on Bonds Payable | |||
| Bonds Payable |
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Authors: Philip M J Reckers
1st Edition
0762314257, 9780762314256
