On January 1 of this year, Gateway Company issued bonds with a face value of $1 million and a coupon rate of 9 percent. The bonds mature in 10 years and pay interest semiannually every June 30 and December 31. When the bonds were issued, the annual market rate of interest was 8 percent. Record the issuance of the bonds on January 1 of this year. How will Gateway's statement of cash flows be affected on January 1, June 30, and December 31 of this year?
This question was answered on: Jul 11, 2017
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