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Record the bond issue and first interest payment

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Problem - Pretzelmania, Inc., Issues 5%, 20 year bonds with a face amount of $56,000 for $43 611 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 4% Interest is paid annually on December 31. Record the bond issue and first interest payment on December 31, 2021?

Reference no: EM132961739

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