Garcia Company issues 1 0 % , 1 5 - year bonds with a par value of

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Question:

Garcia Company issues

10 %, 15 -

year bonds with a par value of $

240, 000

and semiannual interest payments. On the issue date, the annual market rate for these bonds is

8 %,

which implies a selling price of

117 .

Prepare the

journal entry for the issuance of these bonds for cash on January

1 .

Related Book For answer-question

Fundamental Accounting Principles

ISBN: 978-1259536359

23rd edition

Authors: John Wild, Ken Shaw, Barbara Chiappett

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Posted Date: May 09, 2024 08:56 AM

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Garcia Company issues 1 0 % , 1 5 - year bonds with a par value of

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Fundamental Accounting Principles

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