On the first day of the fiscal year, a company issues a $4,000,000, 10% 10-year bond that

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On the first day of the fiscal year, a company issues a $4,000,000, 10% 10-year bond that pays semiannual interest of $ 2,00,000 ($4,000,000 × 10% × ½ ), receiving cash of $3,760,992. Journalize the bond issuance.

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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: Oct 14, 2011 05:55 AM

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On the first day of the fiscal year, a company issues a $4,000,000, 10% 10-year bond that

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Financial and Managerial Accounting

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