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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues an $3,700,000, 8%, 7-year bond that pays semiannual interest
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues an $3,700,000, 8%, 7-year bond that pays semiannual interest of $148,000 ($3,700,000 8% ), receiving cash of $3,902,031. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Premium on Bonds Payable Bonds Payable
Issuing Bonds at a Premium
On the first day of the fiscal year, a company issues an $3,700,000, 8%, 7-year bond that pays semiannual interest of $148,000 ($3,700,000 8% ), receiving cash of $3,902,031.
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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