Required information [The following information applies to the questions displayed below.) Alexi Co. issued $3.00...
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Accounting
Required information [The following information applies to the questions displayed below.) Alexi Co. issued $3.00 million face amount of 8%, 10-year bonds on June 1, 2019. The bonds pay interest on an annual basis on May 31 each year. b-1. Independent of your answer to part a, assume that the proceeds were $2,644,000. Use the horizontal model to show the effect of issuing the bonds. Indicate the financial statement effect. (Enter your answers in whole dollars, not in millions. Enter decreases with a minus sign to indicate a negative financial statement effect.)
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