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nt QS 10-7 (Algo) Journalizing discount bond issuance LO P2 Enviro Company issues 10%, 10-year bonds with a par value of $330,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet > 1 ences Record the issue of bonds with a par value of $330,000. Note: Enter debits before credits. Date January 01 Cash General Journal Debit Credit G Discount on bonds payable Bonds payable Record entry Clear entry View general journal

nt QS 10-7 (Algo) Journalizing discount bond issuance LO P2 Enviro Company issues 10%, 10-year bonds with a par value of $330,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet > 1 ences Record the issue of bonds with a par value of $330,000. Note: Enter debits before credits. Date January 01 Cash General Journal Debit Credit G Discount on bonds payable Bonds payable Record entry Clear entry View general journal

FINANCIAL ACCOUNTING
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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nt QS 10-7 (Algo) Journalizing discount bond issuance LO P2 Enviro Company issues 10%, 10-year bonds with a par value of $330,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet > 1 ences Record the issue of bonds with a par value of $330,000. Note: Enter debits before credits. Date January 01 Cash General Journal Debit Credit G Discount on bonds payable Bonds payable Record entry Clear entry View general journal
Transcribed Image Text:nt QS 10-7 (Algo) Journalizing discount bond issuance LO P2 Enviro Company issues 10%, 10-year bonds with a par value of $330,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Prepare the journal entry for the issuance of the bonds for cash on January 1. View transaction list Journal entry worksheet > 1 ences Record the issue of bonds with a par value of $330,000. Note: Enter debits before credits. Date January 01 Cash General Journal Debit Credit G Discount on bonds payable Bonds payable Record entry Clear entry View general journal
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