Question
On the first day of the fiscal year, a company issues a $6,200,000, 12%, 9-year bond that pays semiannual interest of $372,000 ($6,200,000 12% ),
On the first day of the fiscal year, a company issues a $6,200,000, 12%, 9-year bond that pays semiannual interest of $372,000 ($6,200,000 12% ), receiving cash of $6,924,755.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
| blank | Accounts PayableBonds PayableCashDiscount on Bonds PayablePremium on Bonds Payable | - Select - | - Select - |
| Accounts PayableCashDiscount on Bonds PayableInterest PayablePremium on Bonds Payable | - Select - | - Select - | |
| Accounts PayableBonds PayableCashDiscount on Bonds PayableInterest Payable | - Select - | - Select - |
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Trucking Industry IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304135640, 978-1304135643
