Question
On the first day of the fiscal year, a company issues a $1,550,000, 12%, five-year bond that pays semiannual interest of $93,000 ($1,550,000 12% ),
On the first day of the fiscal year, a company issues a $1,550,000, 12%, five-year bond that pays semiannual interest of $93,000 ($1,550,000 12% ), receiving cash of $1,503,140.
Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles.
On the first day of the fiscal year, a company issues a $1,550,000, 12%, five-year bond that pays semiannual interest of $93,000 ($1,550,000 12% ), receiving cash of $1,503,140.
Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles.
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Chart of Accounts
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