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Madrid Company plans to issue 8% bonds on January 1,2013 with a par value of 4,000,000. the company sells $3,600,000 OF BONDS ON JANUARY 1,2013.

Madrid Company plans to issue 8% bonds on January 1,2013 with a par value of 4,000,000. the company sells $3,600,000 OF BONDS ON JANUARY 1,2013. The remaining $400,000 sells at par on March 1,2013. The bonds pay interest semiannually as of June 30 and December 31. record the entry for the march 1 cash sale bonds

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