On the first day of the fiscal year, a company issues a $5,300,000, 8%, the five-year bond

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On the first day of the fiscal year, a company issues a $5,300,000, 8%, the five-year bond that pays semiannual interest of $212,000 ($5,300,000 × 8% × ½), receiving cash of $5,520,390.

Journalize the bond issuance.

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Financial Accounting

ISBN: 9781337913102

16th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Mar 11, 2022 12:36 AM

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On the first day of the fiscal year, a company issues a $5,300,000, 8%, the five-year bond

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