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On the first day of the fiscal year, a company issues a $940,000, 10%, 5-year bond that pays semiannual interest of $47,000 ($940,000 x 10%
On the first day of the fiscal year, a company issues a $940,000, 10%, 5-year bond that pays semiannual interest of $47,000 ($940,000 x 10% x 1/2), receiving cash of $884,177. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank
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