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Mike has decided that Arrest My Pest will issue $100,000 of two year 4% coupon bonds. The market rate today is 6%. The bonds make

Mike has decided that Arrest My Pest will issue $100,000 of two year 4% coupon bonds. The market rate today is 6%. The bonds make monthly interest payments. Arrest My Pest receives the cash raised from the bond today, and coupon payments are due on the last day of each month.

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A. Journal Entry

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