Garcia Company issues 10%, 15-year bonds with a par value of $240,000 and semiannual interest payments. On
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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
1171⁄4. Prepare the journal entry for the issuance of these bonds for cash on January 1.
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Related Book For
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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