On the first day of the fiscal year, a company issues a $950,000, 7%, 5-year bond...

Question

Question

On the first day of the fiscal year, a company issues a $950,000, 7%, 5-year bond that pays semiannual interest of $33,250 ($

Answer 1

Answer #1

ANSWER:

Account title and explanation

debit

credit

Cash

discount on bonds payable

Bonds payable

$884174

$65826

.

$950000

Answer 2

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