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What will be the general journal entry recorded on January

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Question - A bond is issued on February 1, 2021 for $144,444.44 with a face value of $5.55%. The market rate at the time of issuance is 3.33%. The bond interest will be paid every quarter starting on April 30, 2021. The bond will mature in two years. Both the calendar and fiscal year ends on December 31st. What will be the general journal entry recorded on January 31, 2022 for the issuer of this bond?

Reference no: EM133124314

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