On the first day of the fiscal year, a company issues a $920,000, 9%, 5-year bond...
On the first day of the fiscal year, a company issues a $920,000, 9%, 5-year bond that pays semiannual interest of $41,400 ($920,000 x 9% × 1/2), receiving cash of $884,172. Journalize the entry to record the issuance of the bonds.
If an amount box does not require an entry, leave it blank or enter "0".
| Cash | |||
| Discount on Bonds Payable | |||
| Bonds Payable |
Homework Answers
| Cash | 884,172 | |
| Discount on bonds payable | 35,828 | |
| Bonds payable | 920,000 |
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On the first day of the fiscal year, a company issues a
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