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Prepare the january journal entry to record bonds issuance

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Question - Legacy issues $690,000 of 7.0%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $623,078 when the market rate is 10%. Prepare the January 1 journal entry to record the bonds' issuance.

Reference no: EM133093450

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