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= Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $7,200,000, 7%, 9-year bond that pays semiannual
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Issuing Bonds at a Discount
On the first day of the fiscal year, a company issues a $7,200,000, 7%, 9-year bond that pays semiannual interest of $252,000 ($7,200,000 7% ), receiving cash of $6,324,481.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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