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Journalize the entry to record the issuance of the bonds

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Problem - On the first day of the fiscal year, a company issues a $970,000, 10%, 5-year bond that pays semiannual interest of $48,500 ($970,000 x 10% X 1/2), receiving cash of $884,177. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blank.

Reference no: EM132958768

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