Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,400,000, 6%, 8-year bond that pays semiannual interest of $252,000 ($8,400,000x6% x), receiving cash of $8,948,309. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,400,000, 6%, 8-year bond that pays semiannual interest of $252,000 ($8,400,000x6% x), receiving cash of $8,948,309. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

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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Question

Issuing Bonds at a Premium
On the first day of the fiscal year, a company issues a $8,400,000, 6%, 8-year bond that pays semiannual interest of $252,000 ($8,400,000x6%x%), receiving cash of
$8,945,309.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank
Check My Work
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