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ABC issues two-year $100,000 12% bonds on May 1, 2009 (maturity date is Dec 31, 2010). Interest is paid semiannually on June 30 and December
ABC issues two-year $100,000 12% bonds on May 1, 2009 (maturity date is Dec 31, 2010). Interest is paid semiannually on June 30 and December 31. The market rate on the date of issue is 10%. How much money will ABC receive on the issue date? Provide journal entries through the life of the bond.
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