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On January 1, 2018, Alpha Company issued $300,000 15 year, 10%, semi-annual, callable bonds for $306,000. Required: Prepare the journal entry to record the issuance

On January 1, 2018, Alpha Company issued $300,000 15 year, 10%, semi-annual, callable bonds for $306,000.

Required:

Prepare the journal entry to record the issuance of the bond.
Determine the present value of the bond using the attached compounding interest table.

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