Question
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $7,000,000, 11%, 7-year bond that pays semiannual interest
Issuing Bonds at a Premium
On the first day of the fiscal year, a company issues a $7,000,000, 11%, 7-year bond that pays semiannual interest of $385,000 ($7,000,000 11% ), receiving cash of $7,346,452.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Auditing And Assurance Services
Authors: Alvin Arens, Randal J. Elder
14th Global Edition
0273755013, 978-0273755012
