Question
On the first day of the fiscal year, a company issues a $1,100,000, 9%, 10-year bond that pays semiannual interest of $49,500 ($1,100,000 9% ),
On the first day of the fiscal year, a company issues a $1,100,000, 9%, 10-year bond that pays semiannual interest of $49,500 ($1,100,000 9% ), receiving cash of $1,031,460.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
