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Enviro Company issues 11.00%, 10-year bonds with a par value of $440,000 and semiannual interest payments. On the issue date,
CHE On January 1, MM Co. borrows $430,000 cash from a bank and in return signs an 4% Installment note for five annual payment
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Bond is a fixed income security in which issuer promises pay a series of interest payment and repay the principle on maturityAns 1 Credit Date Jan 1 Account title and Explanation Debit Cash $4,30,000 Notes Payable (To record issuance of notes payable

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