On the first day of the fiscal year, a company issues a $990,000, 10 , 5 year bond that pays semiannual interest of $49,500 ($990,000 x 10 1 2), receiving cash of $884,180 Journalize the entry to record the issuance of the bonds If an amount box does not require an entry, leave it blank Bonds Payable Discount on Bonds Payable Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable

Question

On the first day of the fiscal year, a company issues a $990,000, 10 , 5 year bond that pays semiannual interest of $49,500 ($990,000 x 10  1 2), receiving cash of $884,180  Journalize the entry to record the issuance of the bonds  If an amount box does not require an entry, leave it blank  Bonds Payable Discount on Bonds Payable Bonds Payable Cash Discount on Bonds Payable Interest Payable Premium on Bonds Payable

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On the first day of the fiscal year, a company issues a $990,000, 10%, 5-year bond that pays semiannual interest of $49,500 ($990,000 x 10%

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