If there is a bond issued for $8,000,000 of 5 year, 8% callable bonds dated on July 1, 05 at an effective rate of 10%, receiving cash of $7,382,236. And interest is payable semiannually on Dec 31, and Jun 30... what would the entry be?
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If there is a bond issued for $8,000,000 of 5 year, 8% callable bonds dated on July 1, 05 at an effective rate of 10%, receiving cash of $7,382,236. And interest is payable semiannually on Dec 31, and Jun 30... what would the entry be?
Cash 8,000,000
Bonds Payable 8,000,000
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