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Prepare the journal entry for issuance for renewable energy

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Reference no: EM132830787

Problem 1: On January 1, Renewable Energy issues bonds that have a $20,000 par value, mature in eight years, and pay 12% interest semi annually on June 30 and December 31. Prepare the journal entry for issuance assuming the bonds are issued at:

(A) 99%
(B) 103½ %

Reference no: EM132830787

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