In the "iron law of oligarchy," robert michels stated that bureaucracy always means

What is the relationship between credit and debt?

On january 1, a company issued and sold a $398,000, 6%, 10-year bond payable, and received proceeds of $393,000. interest is payable each june 30 and december 31. the company uses the straight-line method to amortize the discount. the journal entry to record the first interest payment is:

What is the difference between a debtor and a creditor?