Question
On the first day of the fiscal year, a company issues a $1,800,000, 10%, 7-year bond that pays semiannual interest of $90,000 ($1,800,000 10% ),
On the first day of the fiscal year, a company issues a $1,800,000, 10%, 7-year bond that pays semiannual interest of $90,000 ($1,800,000 10% ), receiving cash of $1,990,136.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Financial Accounting A Critical Approach
Authors: John Friedlan
3rd Edition
0070967601, 978-0070967601
