Business, 18.11.2019 23:31 kalebkoman01241

Issuing bonds at face amount on january 1, the first day of the fiscal year, designer fabric inc. issues a $3,000,000, 8%, 10-year bond that pays semiannual interest of $120,000 ($3,000,000 x 8% x ½ year), receiving cash of $3,000,000. journalize the entry to record (a) the issuance of the bonds. if an amount box does not require an entry, leave it blank.(b) the first interest payment on june 30, and(c) the payment of the principal on the maturity date.

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Issuing bonds at face amount on january 1, the first day of the fiscal year, designer fabric inc. is...

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