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Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $2,600,000, 11%, 7-year bond that pays semiannual interest
Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $2,600,000, 11%, 7-year bond that pays semiannual interest of $143,000 ($2,600,000 11% X 12), receiving cash of $2,258,928. Journalize the bond issuance. If an amount box does not require an entry, leave it blank
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