Question
On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest of $20,000 ($500,000 8% 1/2),
On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest of $20,000 ($500,000 8% 1/2), receiving cash of $530,000. Journalize the entry for the issuance of the bonds.
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Management Accounting For Beginners
Authors: Nicholas Apostolides
1st Edition
0815351224, 978-0815351221
