Alexi Co. issued $3.00 million face amount of 6%, 10-year bonds on
June 1, 2019. The bonds pay interest on an annual basis on May 31
each year.
b-1. Independent of your answer to part
a, assume that the proceeds were $2,634,000. Use
the horizontal model to show the effect of issuing the bonds.
Indicate the financial statement effect. (Enter your
answers in whole dollars, not in millions. Enter decreases with a
minus sign to indicate a negative financial statement
effect.)
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b-1. Independent of your answer to part a, assume that the proceeds were $2,634,000. Use the horizontal model to show the effect of issuing the bonds. Indicate the financial statement effect. (Enter your answers in whole dollars, not in millions. Enter decreases with a minus sign to indicate a negative financial statement effect.)
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