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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,700,000, 10%, 7-year bond that pays semiannual interest
Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $8,700,000, 10%, 7-year bond that pays semiannual interest of $435,000 ($8,700,000 10% x 12), receiving cash of $10,125,128. Journalize the bond issuance. If an amount box does not require an entry, leave it blank
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