On the first day of the fiscal year, a company issues a $4,000,000, 9%, 10-year bond that pays semiannual interest of $180,000 ($4,000,000 x 9% x 2), receiving cash of $3,750,756. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable 3,750,756 ✔ 0 0 4,000,000 ✓

On the first day of the fiscal year, a company issues a $4,000,000, 9%, 10-year bond that pays semiannual interest of $180,000 ($4,000,000 x 9% x 2), receiving cash of $3,750,756. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Cash Discount on Bonds Payable Bonds Payable 3,750,756 ✔ 0 0 4,000,000 ✓

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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