McDonald Sales prepared a bond issue of $20,000 dated January 1, 2013. The bonds have a stated rate of 3% and a term of 6 years. The bond issue was delayed, and the bonds were finally sold on March 1, 2013 at par. Please provide the journal entry for the issue of the bonds on March 1, 2013.
Definitions:
T-Test
A statistical test used to compare the means of two groups or to compare a sample mean with a known value when the sample size is small and the population variance is unknown.
Sign Test
A non-parametric test used to determine if there is a significant difference between paired observations, based on the direction of differences rather than the size.
T Test
A statistical test used to compare the means of two groups, or a sample mean to a known value, to determine if they are significantly different from each other.
Sign Test
A non-parametric test used to determine if there is a statistically significant difference between paired observations.
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