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Lev Inc. issued $300 in principal of 5-year zero-coupon bonds. Lev Inc. received proceeds of $214 and had zero issue costs. Record the journal entries
- Lev Inc. issued $300 in principal of 5-year zero-coupon bonds. Lev Inc. received proceeds of $214 and had zero issue costs.
- Record the journal entries for the issuance of the bond.
| Date | Item | Debit | Credit |
| Issue date |
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How much interest expense will Lev Inc. record over the life of the zero-coupon bond?
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