Question
On the first day of the fiscal year, a company issues a $5,500,000, 9%, 4-year bond that pays semiannual interest of $247,500 ($5,500,000 9% ),
On the first day of the fiscal year, a company issues a $5,500,000, 9%, 4-year bond that pays semiannual interest of $247,500 ($5,500,000 9% ), receiving cash of $5,685,152. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Weygandt Kimmel Kieso
10th Edition
0470646462, 978-0470646465
