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Question - Issuing Bonds at a Premium

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Question - Issuing Bonds at a Premium

On the first day of the fiscal year, a company issues a $4,400,000, 11%, 8-year bond that pays semiannual interest of $242,000 ($4,400,000 × 11% × ½), receiving cash of $4,638,430.

Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Reference no: EM132558518

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