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Dmitrij [34]
3 years ago
5

A company issues $50 million of bonds at par on January 1, 2018. The bonds pay 10% interest semi-annually on 12/31 and 6/30 and

mature in 20 years. The journal entry when the bonds are sold is:
Business
1 answer:
marysya [2.9K]3 years ago
4 0

Answer: Please see explanation for answer

Explanation:

Journal entry to record sale of bonds

Account titles                           Debit                       Credit

Cash                                     $50,000,000

Bonds Payable                                                      $50,000,000

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