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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $1,300,000, 11%, 10-year bond that pays semiannual
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $1,300,000, 11%, 10-year bond that pays semiannual interest of $71,500 ($1,300,000 11% x 1/2), receiving cash of $1,565,009. Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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