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Bloom Corporation issued the following bond on January 1, 2022: Face Value: $12,000,000 Stated Rate: 6.00% Effective Rate: 6.25% Term: 10 years Interest: paid

Bloom Corporation issued the following bond on January 1, 2022: Face Value: $12,000,000 Stated Rate: 6.00% Effective Rate: 6.25% Term: 10 years Interest: paid twice per year Journal Entry to Issue Bond Accounts Debit Credit

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