Question
On the first day of the fiscal year, a company issues a $1,000,000, 3.5%, 5-year bond that pays semiannual interest of $17,500 ($1,000,000 3.5% 1/2),
On the first day of the fiscal year, a company issues a $1,000,000, 3.5%, 5-year bond that pays semiannual interest of $17,500 ($1,000,000 3.5% 1/2), receiving cash of $985,456 Journalize the entry to record the issuance of the bonds.
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Accounting And Finance An Introduction
Authors: Eddie McLaney, Peter Atrill
10th Edition
1292312262, 978-1292312262
