Question
On the first day of the fiscal year, a company issues a $4,900,000, 12%, 5-year bond that pays semiannual interest of $294,000 ($4,900,000 12% ),
On the first day of the fiscal year, a company issues a $4,900,000, 12%, 5-year bond that pays semiannual interest of $294,000 ($4,900,000 12% ), receiving cash of $5,084,672.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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Introduction To Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen, Suresh Kalagnanam, Ganesh Vaidyanathan
2nd Canadian Edition
0070964777, 9780070964778
