Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,000,000, 7%, five-year bond that pays semiannual interest of $175,000 ($5,000,000 * 7% * ½), receiving cash of $5,400,000. Journalize the bond issuance.
Answers (1)
Alpha Company has sales revenue of $5,000,000, cost of goods sold of $2,000,000, and net income of $750,000.
Answers (1)