Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 19

Issuing bonds at a discount
On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that pays semiannual interest of $50,000 ($2,500,000 × 4% × ½), receiving cash of $2,400,000. Journalize the bond issuance.