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On the first day of the fiscal year, a company issues a $930,000, 7%, 5-year bond that pays semiannual interest of $32,550 ($930,000 7% 1/2),
On the first day of the fiscal year, a company issues a $930,000, 7%, 5-year bond that pays semiannual interest of $32,550 ($930,000 7% 1/2), receiving cash of $884,175.
| Required: | |
| Journalize the entry to record the issuance of the bonds. Refer to the Chart of Accounts for exact wording of account titles. |
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Auditing Explained A Practical Guide For Managers
Authors: John Dunn
1st Edition
0749405619, 978-0749405618
