Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, 20Y1, Smiley issued $21,300,000 of five-year,
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Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, 20Y1, Smiley issued $21,300,000 of five-year, 4% bonds at a market (effective) interest rate of 3%, receiving cash of $22,282,220. Interest is payable semiannually on April 1 and October 1.
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Journalize the entries. Refer to the Chart of Accounts for exact wording of account titles. Round to the nearest dollar.
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JOURNAL
ACCOUNTING EQUATION
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Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date: