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headland co is building a new music arena at a cost of 5,645,000. It received a down payment of 560,000 from a local business to

headland co is building a new music arena at a cost of 5,645,000. It received a down payment of 560,000 from a local business to support the project, and now needs to borrow 5,085,000 to complete the project. If therefore decides to issue 5,085,000 of 8%, 20-year bonds. These bonds are issued on Jan 1, 2024, and pay interest annually on each Jan 1. The bond yields 10%

Prepare a jornal entrey to record issuenace pof the bond on Jan 1 2024.

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