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Prepare the journal entry to record the issuance of bonds

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On December 31, 2015, when the market rate was 8%, Olde West Corp issued $2,000,000, 10%, 5-year bonds. Interest is payable semiannually on June 30 and December 31. Prepare the journal entry to record the issuance of the bonds.

Reference no: EM132331419

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