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Determine the selling price (present value) for the following bonds, and make the journal entry to record each bond's issuance. A $10,000, 5-year, 11% bond

Determine the selling price (present value) for the following bonds, and make the journal entry to record each bond's issuance.

A $10,000, 5-year, 11% bond is sold when interest rates are 12%. The bond pays interest semiannually.

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