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Prepare the journal entry for the issuance of these bonds

Prepare the journal entry for the issuance of these bonds. Assume the bonds are issued for cash on January 1, 2015.

Garcia Company issues 11.00%, 15-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 9.00%, which implies a selling price of 118 1/4.

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Accounting Basics: Prepare the journal entry for the issuance of these bonds

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Accounting Basics: Prepare the journal entry for the issuance of these bonds

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