Question
Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at
Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date.
Problem 10-5A Part 1
Required:
1.Prepare the January 1, 2017, journal entry to record the bonds' issuance.
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Essentials Of Accounting
Authors: Leslie Breitner, Robert Anthony
11th Edition
0132744376, 978-0132744379
