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Make the journal entry to record the issuance of the bond

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On October 1, 2016, Kristal Corp. issued $700,000, 5%, 10-year bonds at face value. The bonds were dated October 1, 2016, and pay interest annually on October 1. Financial statements are prepared annually on December 31.

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Question (a) Prepare the journal entry to record the issuance of the bonds

Reference no: EM132475042

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