On the first day of the fiscal year, a company issues a $1,700,000, 9%, 4-year bond that pays semiannual interest of $76,500 ($1,700,000 9% ),
On the first day of the fiscal year, a company issues a $1,700,000, 9%, 4-year bond that pays semiannual interest of $76,500 ($1,700,000 9% ), receiving cash of $1,879,004.
Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank. |
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Authors: Ahmed Raihi-Belkaoui
5th Edition
1844800296, 978-1844800292
