A Company Issued 10-Year,9% Bonds,with a Par Value of $500,000

question 106

Essay

A company issued 10-year,9% bonds,with a par value of $500,000 when the market rate was 9.5%.The issuer received $484,087 in cash proceeds.Prepare the issuer's journal entry to record the issuance of the bonds.

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Definitions:

Digitization

The process of converting analog information into digital format, allowing for easier storage, access, and sharing of content.

20th Century

The 20th century spans from January 1, 1901, to December 31, 2000, characterized by unprecedented technological advancements, global conflicts, and significant social changes.

Communication

The act of conveying information, thoughts, and feelings through various means, including speech, writing, signals, or behavior.

Telephone

A communication device that transmits sound, particularly human voice, across distances using wire or radio technology.