Question
On the first day of the fiscal year, a company issues a $6,200,000, 7%, 6-year bond that pays semiannual interest of $217,000 ($6,200,000 7% ),
On the first day of the fiscal year, a company issues a $6,200,000, 7%, 6-year bond that pays semiannual interest of $217,000 ($6,200,000 7% ), receiving cash of $5,634,647.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
| Cash | |||
| Discount on Bonds Payable | |||
| Bonds Payable |
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Cornerstones of managerial accounting
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
5th edition
978-1305302327, 130530232X, 978-1133943983
