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Citywide Company issues bonds with a par value of $ 7 3 , 0 0 0 . The bonds mature in five years and pay

Citywide Company issues bonds with a par value of $

73, 000 .

The bonds mature in five years and pay

8 %

annual interest in semiannual payments. The annual market rate for the bonds is

6 % .

Compute the price of the bonds as of their issue date.

Prepare the journal entry to record the bonds issuance.

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