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On January 1, 2020, Maya Industries issues 2-year, $500,000 bonds at a 9% stated rate. Periodic payments are made monthly, and bonds are sold to

On January 1, 2020, Maya Industries issues 2-year, $500,000 bonds at a 9% stated rate. Periodic payments are made monthly, and bonds are sold to yield an 12% effective interest rate. Record the issuance of the bond from the perspective of Maya Industries. (3 points)

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