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On the first day of the fiscal year, a company issues a $1,500,000, 9%, five-year bond that pays semiannual interest

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On the first day of the fiscal year, a company issues a $1,500,000, 9%, five-year bond that pays semiannual interest of $67,500 ($1, 500,000 × 9% × ½ ), receiving cash of $1,334,398. Journalize the bond issuance.

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Financial and Managerial Accounting

Financial and Managerial Accounting

ISBN: 978-0538480895

11th Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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Question Posted: October 14, 2011 05:55:52
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