On January 1, 2023, a company issued 5-year, 7% bonds with a par value of $400,000. The market rate when the bonds were issued was 6.5%. The bonds pay interest semiannually, and the company received $408,422 for the bond. a. Journalize the issuance of the bond. DATE 1 1 Debit Credit

On January 1, 2023, a company issued 5-year, 7% bonds with a par value of $400,000. The market rate when the bonds were issued was 6.5%. The bonds pay interest semiannually, and the company received $408,422 for the bond. a. Journalize the issuance of the bond. DATE 1 1 Debit Credit

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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On January 1, 2023, a company issued 5-year, 7% bonds with a par value of $400,000. The
market rate when the bonds were issued was 6.5%. The bonds pay interest semiannually, and the
company received $408,422 for the bond.
a. Journalize the issuance of the bond.
DATE
1
23
Debit

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I could use some help with this question thanks
Subject: acounting
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Subject: accounting