Question
On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond that pays semiannual interest of $32,200 ($920,000 x 7%
On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond that pays semiannual interest of $32,200 ($920,000 x 7% x 1/2), receiving cash of $884,179. 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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Construction Accounting And Financial Management
Authors: Steven J. Peterson
4th Edition
0135232872, 978-0135232873
