Journalize the bond issuance

Reference no: EM132915909

Question

On the first day of the fiscal year, a company issues a $1,500,000, 6%, 9-year bond that pays semiannual interest of $45,000 ($1,500,000 × 6% × ½), receiving cash of $1,401,078. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Reference no: EM132915909

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