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Journalize the bond issuance

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Reference no: EM132683522

Problem - Issuing Bonds at a Discount

On the first day of the fiscal year, a company issues a $4,000,000, 10%, 10-year bond that pays semiannual interest of $200,000 ($4,000,000 × 10% × 1⁄2), receiving cash of $3,760,992. Journalize the bond issuance.

Reference no: EM132683522

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