Garcia Company issues 11.0%, 15-year bonds with a par value of $440,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.0%, which implies a selling price of 114. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $440,000 at a selling price of 114. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

Garcia Company issues 11.0%, 15-year bonds with a par value of $440,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.0%, which implies a selling price of 114. Prepare the journal entry for the issuance of these bonds for cash on January 1. View transaction list Journal entry worksheet Record the issue of bonds with a par value of $440,000 at a selling price of 114. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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