Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN: 9781305653535
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter 11, Problem 11.2BE

Issuing bonds at a discount

On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that pays semiannual interest of $50,000 ($2,500,000× 4% × ½), receiving cash of $2,400,000. Journalize the bond issuance.

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Corporate Financial Accounting

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Financial Accounting - Long-term Liabilities - Bonds; Author: Finance & Accounting Videos by Prof Coram;https://www.youtube.com/watch?v=_1fwsJIGMos;License: Standard Youtube License