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1,000 bonds were issued with face value of $1,000 with a rate of 5%, maturity of 8yrs, pays interest annual. Find selling price of the

1,000 bonds were issued with face value of $1,000 with a rate of 5%, maturity of 8yrs, pays interest annual.
Find selling price of the bonds and make journal entry for the issuance under:
(a) Bonds sold to yield 7% (mrkt rate).
(b) Bonds sold to yield 4% (mrkt rate).

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