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Calculate the price of the bond

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Reference no: EM132733077

Question - Pharoah issued $420,000 of 5%, 5-year bonds on January 1, 2021. Interest is payable semi-annually.

Required -

1. Calculate the price of the bond?

2. Prepare the journal entry to record the issuance of the bond assuming the market rate of interest.

Reference no: EM132733077

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