On the First Day of the Fiscal Year, a Company

question 77

Essay

On the first day of the fiscal year, a company issues a $500,000, 8%, 10-year bond that pays semiannual interest of $20,000
($500,000 × 8% × 1/2), receiving cash of $530,000. Journalize the entry to record the issuance of the bonds.

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Definitions:

Important

Something of great significance or value, often because it has a major impact on the outcome or success of a situation.

Appreciation Messages

Communications that express gratitude or recognition towards someone for their efforts or achievements.

Important

Having great significance or value; likely to have a profound effect on success, survival, or well-being.

Significant Event

An occurrence of considerable importance, impact, or consequence in a person's life or in a particular field or domain.