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issuance of long term debt Simpson company is an entertainment company located in Springfield IL. Simpson recently issued $200,000 of bonds to finance large expenditures

issuance of long term debt Simpson company is an entertainment company located in Springfield IL. Simpson recently issued $200,000 of bonds to finance large expenditures for an upcoming television production. Simpson received cash of $194,620 upon the issuance of the bonds and plans to pay interest semiannually. required: 1. prepare the necessary journal entry to record the issuance of the bonds.

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