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Journalize the bond issuance on january

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Question - On the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720.

Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titles.

Reference no: EM132605644

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