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A bond is issued with a face value of $1,000,000 with an 8-year term. The annual market rate is 5%, with coupon rate of 4%, and payments made annually. The journal entry to record the issuance of this
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A bond is issued with a face value of $1,000,000 with an 8-year term. The annual market rate is 5%, with coupon rate of 4%, and payments made annually. The journal entry to record the issuance of this bond includes a debit to ____________ in the amount of ___________. (Fill in the blanks)

Group of answer choices

Discount on Bonds; $65,275

Cash; $1,000,000

Bond Payable; $934,725

Interest Expense; $65,275

User Geg
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15 votes

Answer:

Step-by-step explanation:

a

User Bernadette
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Cash and Bond Payable
User TylerOhlsen
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