On the first day of the fiscal year, a company issues a $3,500,000, 6% five year bond
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On the first day of the fiscal year, a company issues a $3,500,000, 6% five year bond that pays semiannual interest of $105,000 ($3,500,000 × 6% × ½), receiving cash of $3,350,000. Journalize the bond issuance.
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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