On the first day of the fiscal year a company issues a, Accounting Basics

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On the first day of the fiscal year a company issues a

PE 12-3A Issuing bonds at a discount ObJ. 3

On the first day of the fiscal year, a company issues a $1,200,000, 9%, five-year bond that pays semiannual interest of $54,000 ($1,200,000 × 9% × ½), receiving cash of $1,153,670. Journalize the bond issuance.

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Accounting Basics: On the first day of the fiscal year a company issues a

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Accounting Basics: On the first day of the fiscal year a company issues a

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