isiructions On January 1, the first day of the fiscal year, a company issues an S8,600,000, 11%, five-year bond that pays semiannual interest of $473,000 (58,600,000 x 11% x %). receiving cash of $8,932,035. Required: Joumalize the bond issuance. Refer to the chart of accounts for the exact wording of the account tities. CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered Journal Journalize the bond issuance. Refer to the chart of accounts for the exact wording of the account titles. CNOW jounais do not use lines for journai explanations. Every line on a jourmal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEDIT CREDIT ASSETS LIABILITIES EQUITY Jan. 1 Cash 8,932,035.00 Bonds Payable 8,600,000.00
isiructions On January 1, the first day of the fiscal year, a company issues an S8,600,000, 11%, five-year bond that pays semiannual interest of $473,000 (58,600,000 x 11% x %). receiving cash of $8,932,035. Required: Joumalize the bond issuance. Refer to the chart of accounts for the exact wording of the account tities. CNOW journals do not use lines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered Journal Journalize the bond issuance. Refer to the chart of accounts for the exact wording of the account titles. CNOW jounais do not use lines for journai explanations. Every line on a jourmal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEDIT CREDIT ASSETS LIABILITIES EQUITY Jan. 1 Cash 8,932,035.00 Bonds Payable 8,600,000.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Instructions
Chart of Accounts
Journal
Instructions
On January 1, the first day of the fiscal year, a company issues an $8,600,000, 11%, five-year bond that pays semiannual interest of $473,000 (S8.600,000 x 11% x %), receiving cash of $8,932,035.
Required:
Journalize the bond issuance. Refer to the chart of accounts for the exact wording of the account titiles. CNOW journals do not use lines for
jounai explanations. Every line on a jourmal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a
credit amount is entered.
Journal
Joumalize the bond issuance. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
PAGE 10
JOURNAL
ACCOUNTING EQUATION
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
ASSETS
LIABILITIES
EQUITY
1
Jan. 1
Cash
8,932,035.00
Bonds Payable
8,600,000.00
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