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


On the first day of the fiscal year, a company issues a $500,000, 8%, 10 year bond that pays semi-annual interest of $20,000 ($500,000 x 8% x 1/2), receiving cash of $530,000. Journalize the entry to record the issuance of the bonds.

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Financial Accounting: On the first day of the fiscal year a company issues a
Reference No:- TGS01103666

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