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Journalize the bond issuance

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Question - On the first day of the fiscal year, a company issues a $1,200,000, 9%, 5 year bond that pays semi-annual interest of %54,000 ($1,200,000 X 9% X 1/2), receiving cash of $1,153,670. Journalize the bond issuance.

Reference no: EM132473091

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