Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar)?
E) None of the given answers.

Question

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The Answer of Dubbin Ltd issues $3 million in 5-year, 8 per cent, semi-annual coupon debentures. The rate of return required by the market is 6 per cent per annum. What is the journal entry to record the issue of the debentures (rounded to the nearest dollar)?
E) None of the given answers.

Dubbin Ltd Issues $3 Million in 5-Year, 8 Per Cent