Journal form without explanation for the issuance

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Reference no: EM131063640

a. on July 1, 2013, Gallation Corporation issued bonds with a face value of $1,000,000. The bonds carry a face interest rate of 10 percent that is payable each July 1 and January 1.

b. Prepare the entry in journal form without explanation for the issuance assuming the bonds are issued at 102.

Reference no: EM131063640

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