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Record the march bond issuance entry

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Problem 1: On March 28, Billingslea Appraising Co. issues $2,500,000 of 6%, 10-year bonds with interest due at each year-end. The market rate is 5% for similar risk bonds. The company calculates that the present value of the bond principal is $1,534,775, while the present value of the bond interest payments is $1,158,260. Record the March 28 bond issuance entry.

Reference no: EM132689722

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