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On the first day of the fiscal year, a company issues a $910,000, 7%, 5-year bond that pays semiannual interest of $31,850 ($910,000 7%
On the first day of the fiscal year, a company issues a $910,000, 7%, 5-year bond that pays semiannual interest of $31,850 ($910,000 7% x 1/2), receiving cash of $884,177. 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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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Olds
8th edition
978-1259569197
