Question
On the first day of the fiscal year, a company issues a $2,000,000, 8%, five-year bond that pays semiannual interest of $80,000 ($2,000,000 8% ),
On the first day of the fiscal year, a company issues a $2,000,000, 8%, five-year bond that pays semiannual interest of $80,000 ($2,000,000 8% ), receiving cash of $1,920,873.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Cost Determination A Conceptual Approach
Authors: Joel S. Demski
1st Edition
0813803608, 978-0813803609
