On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that

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On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that pays semiannual interest of $50,000 ($2,500,000 × 4% × ½), receiving cash of $2,390,599. Journalize the bond issuance?

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Accounting

ISBN: 978-1337899451

27th edition

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

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Question Posted: May 08, 2017 11:42 AM

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On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that

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