Question
On the first day of the fiscal year, a company issues a $3,000,000, 12%, 7-year bond that pays semiannual interest of $180,000 ($3,000,000 12% ),
On the first day of the fiscal year, a company issues a $3,000,000, 12%, 7-year bond that pays semiannual interest of $180,000 ($3,000,000 12% ), receiving cash of $2,864,794.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Accounting Fraud, Maneuvering And Manipulation, Past And Present
Authors: Gary Giroux
2nd Edition
1947098748, 9781947098749
