Question
On the first day of the fiscal year, a company issues a $5,400,000, 12%, 6-year bond that pays semiannual interest of $324,000 ($5,400,000 12% ),
On the first day of the fiscal year, a company issues a $5,400,000, 12%, 6-year bond that pays semiannual interest of $324,000 ($5,400,000 12% ), receiving cash of $4,971,097.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Managing Financial Resources
Authors: Mick Broadbent, John Cullen
3rd Edition
1138134546, 978-1138134546
