How do journalize the bond issuance for company

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On the first day of the fiscal year, a company issues a $1,300,000, 9%, 7-year bond that pays semiannual interest of $58,500 ($1,300,000 × 9% × ½), receiving cash of $1,368,660.

Problem 1: Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

Reference no: EM132971586

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