Cheyenne Co. is building a new hockey arena at a cost of $2,360,000. It received a downpayment of $500,000 from local businessest support the project, and now needs to borrow $1.860.000 to complete the project. It therefore decides to issue $1,860.000 of 10%, 10-year bonds. These bonds were issued on January 1.2019, and pay interest annually on each January 1 The bonds yield 9%. a) Your answer is partially correct. Prepare the journal entry to record the issuance of the bonds on January 1. 2019. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to O decimal places eg. 58,971. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manualy) Debit Credit Date Account Titles and Explanation

Cheyenne Co. is building a new hockey arena at a cost of $2,360,000. It received a downpayment of $500,000 from local businessest support the project, and now needs to borrow $1.860.000 to complete the project. It therefore decides to issue $1,860.000 of 10%, 10-year bonds. These bonds were issued on January 1.2019, and pay interest annually on each January 1 The bonds yield 9%. a) Your answer is partially correct. Prepare the journal entry to record the issuance of the bonds on January 1. 2019. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answer to O decimal places eg. 58,971. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manualy) Debit Credit Date Account Titles and Explanation

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter13: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 41P

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