Question
On the first day of the fiscal year, a company issues a $5,700,000, 6%, 4-year bond that pays semiannual interest of $171,000 ($5,700,000 6% ),
On the first day of the fiscal year, a company issues a $5,700,000, 6%, 4-year bond that pays semiannual interest of $171,000 ($5,700,000 6% ), receiving cash of $6,340,048.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Accounting Systems
Authors: Ronald W. Hilton, David E. Platt
10th Edition
1308172486, 978-1308172484
