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On the first day of the fiscal year a company issues a

Question - Issuing Bonds at a Premium

On the first day of the fiscal year, a company issues a $6,800,000, 11%, 7-year bond that pays semiannual interest of $374,000 ($6,800,000 × 11% × ½), receiving cash of $7,495,152.

Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

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Accounting Basics: On the first day of the fiscal year a company issues a

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