Issuing bonds at a premium On the first day of the fiscal year, a company...
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Issuing bonds at a premium On the first day of the fiscal year, a company issues a $4,400,000, 12%, 7-year bond that pays semiannual interest of $264,000 ($4,400,000 12% ), receiving cash of $4,835,541. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
Cash Premium on Bonds Payable Bonds Payable
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