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Cali Hardware issued $400,000 of 8%, 20-year bonds. The bonds pay interest semiannually. The market interest rate at the time of issuance was 10%. Make
Cali Hardware issued $400,000 of 8%, 20-year bonds. The bonds pay interest semiannually. The market interest rate at the time of issuance was 10%.
Make the journal entry to record the transaction of the issuance of the bonds. Please show all your calculations (i.e., showing me clearly how you calculated the total and related pieces of the total, including the factor from the table). Also, please show your answers carried out to 2 decimal places.
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