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Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Trueman Corporation issued $700,000 of 20 -year, 11% bonds

Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1 of the current year, Trueman Corporation issued $700,000 of 20 -year, 11% bonds for $647,338, yielding a market (yield) rate of 12%. Interest is payable semiannually on June 30 and December 31

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