On January 1, a company issues bonds dated January 1 with a par value of $490,000. The bonds mature in 5 years. The cont
Posted: Sun Jul 03, 2022 3:51 pm
On January 1, a company issues bonds dated January 1 with a parvalue of $490,000. The bonds mature in 5 years. The contract rateis 7%, and interest is paid semiannually on June 30 and December31. The market rate is 8% and the bonds are sold for $470,146. Thejournal entry to record the issuance of the bond is: