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Bond Premium and Discount Markway Inc. is contemplating selling bonds. The issue is to be composed of 750 bonds, each with a face amount of

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Bond Premium and Discount Markway Inc. is contemplating selling bonds. The issue is to be composed of 750 bonds, each with a face amount of $1000 5. Assume that the bonds are sold for $925 each. Prepare the entry to recognize the sale of the 750 bonds. Cash 581,250 X Discount on Bonds Payable 18,750 X Bonds Payable 600,000 X Record issuance of bonds at discount

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