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On January 1 , 2 0 2 0 , XYZ Co . issued a bond with a $ 4 0 0 , 0 0 0
On January XYZ Co issued a bond with a $ par face value. The bond is a year bond and will mature on December The bond has a contract rate of interest of and interest is paid semiannually on June and December of each year. On January the market rate of interest for bonds was The issue price of the bond was $ The journal entry to record issuance of the bond would be:
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