Question
On the first day of the fiscal year, a company issues a $980,000, 9%, 5-year bond that pays semiannual interest of $44,100 ($980,000 x 9%
On the first day of the fiscal year, a company issues a $980,000, 9%, 5-year bond that pays semiannual interest of $44,100 ($980,000 x 9% x 1/2), receiving cash of $884,170. Journalize the entry to record the issuance of the bonds.
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Auditing Theory
Authors: Ian Dennis
1st Edition
1138599700, 978-1138599703
