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On the First Day of the Fiscal Year, a Company

question 30

Essay

On the first day of the fiscal year, a company issues a $500,000, 8%, 10 year bond that pays semi-annual interest of $20,000 ($500,000 x 8% x 1/2), receiving cash of $437,740. Journalize the entry to record the issuance of the bonds.


Definitions:

Impulse

A sudden, involuntary urge to do something.

Neural Transmission

The process by which neurons communicate with each other through electrical and chemical signals.

Action Potentials

Electrical impulses that are the means of communication and signal transmission within the nervous system, particularly among neurons.

Excitatory Postsynaptic

Pertaining to the process in which a neurotransmitter increases the likelihood of an action potential firing in the postsynaptic neuron.

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