Question
On the first day of the fiscal year, a company issues a $1,000,000, 7%, 5 year bond that pays semi-annual interest of $35,000 receiving cash
On the first day of the fiscal year, a company issues a $1,000,000, 7%, 5 year bond that pays semi-annual interest of $35,000 receiving cash of $884,171. Journalize the entry to record the issuance of the bonds.
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Cost Accounting
Authors: Edward B. Deakin, Michael Maher
3rd Edition
0256069190, 978-0256069198
