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2. Magnolia Company issued a $1,000,000 bond at 102%% on January1st the bond has a 2 year term and pays 6% interest annually each December

2. Magnolia Company issued a $1,000,000 bond at 102%% on January1st the bond has a 2 year term and pays 6% interest annually each December 31 st . Prepare the appropriate journal entries.

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