On january 1 2016 nezcorp issues a 1-year 10 100000000 bond, Financial Accounting

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On january 1 2016 nezcorp issues a 1-year 10 100000000 bond

On January 1, 2016 Nezcorp issues a 1-year 10% $100,000,000 bond in a 7% market.

i. How would the bond be disclosed on a balance sheet dated January 1, 2016?

ii. Prepare the journal entries on:

January 1, 2016

a) Alternative: What if the bond was issued on February 1 rather than on January 1 (round all numbers to nearest dollar)?

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Financial Accounting: On january 1 2016 nezcorp issues a 1-year 10 100000000 bond

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Financial Accounting: On january 1 2016 nezcorp issues a 1-year 10 100000000 bond

Reference No:- TGS01690840

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