Page 1 of 1
On the first day of the fiscal year, a company issues an $939,000, 9%, five-year bond that pays semiannual interest of $
Posted: Sun Jun 05, 2022 8:03 pm
by answerhappygod
- On The First Day Of The Fiscal Year A Company Issues An 939 000 9 Five Year Bond That Pays Semiannual Interest Of 1 (74.22 KiB) Viewed 52 times
On the first day of the fiscal year, a
company issues an $939,000, 9%, five-year bond that pays semiannual interest of $42,255 ($939,000 x 9% x 1/2), receiving cash of $882,700. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.