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Legacy issues $ 6 5 0 , 0 0 0 of 5 . 0 % , four - year bonds dated January 1 , 2

Legacy issues $650,000 of 5.0%, four-year bonds dated January 1,2021, that pay Prepare the January 1 journal entry to record the bonds' issuance.interest semiannually on June 30 and December 31. They are issued at $584,361 when the market rate is 8%.

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