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On January 1 , the first day of the fiscal year, Designer Fabric Inc. issues a $ 5 5 0 , 0 0 0 ,
On January the first day of the fiscal year, Designer Fabric Inc. issues a $year bond that pays
semiannual interest of $$ year receiving cash of $
a Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it
blank.
Cash
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b Journalize the entry to record the first interest payment on June If an amount box does not require an
entry, leave it blank.
Interest Expense
Issuing bonds at a discount
On the first day of the fiscal year, a company issues a $year bond that pays semiannual
interest of $$ receiving cash of $
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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