Business, 06.12.2021 19:40 youngsiron

Rodgers Corporation produces and sells football equipment. on July 1, 20Y1, Rodgers issued $49,400,000 of 10-year, 12% bonds at a market (effective) interest rate of 11%, receiving cash of $52,351,788. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year. Required:
Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1.

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Rodgers Corporation produces and sells football equipment. on July 1, 20Y1, Rodgers issued $49,400,0...

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