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Record the issue of the bonds on july

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Question - On July 1, 2021, Sunland Corp. issued $4,120,000 of 10-year, 5% bonds at $4,456,840. This price resulted in a 4% market interest rate on the bonds. The bonds pay semi-annual interest on July 1 and January 1, and Sunland has a December 31 year end. Record the issue of the bonds on July 1, 2021.

Reference no: EM133154222

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