Question
On January 1, the first day of the fiscal year, a company issues a $1,000,000, 8%, five-year bond that pays semiannual interest of $40,000 ($1,000,000
On January 1, the first day of the fiscal year, a company issues a $1,000,000, 8%, five-year bond that pays semiannual interest of $40,000 ($1,000,000 8% ), receiving cash of $951,590.
Journalize the bond issuance. Refer to the Chart of Accounts for exact wording of account titles.
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Auditing
Authors: David Ricchiute
8th Edition
0324226292, 978-0324226294
