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Harrison Harrison
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6 years ago
New Shu Corporation issued $100,000 worth of bonds on January 1, 2014. These bonds had a 5 year term with a stated rate of 9%. At the time of sale the market rate was 10% so New Shu received $96,149 for this sale. Record the issuance of this bond.
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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Replies
wrote...
6 years ago
Jan. 1   Cash   96,149
   Discount on Bonds Payable   3,851
      Bonds Payable      100,000
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