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On January 1, 2021 A Co. issues bonds due in 10 years with a stated interest rate of 6% and a face value of $500,000

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On January 1, 2021 A Co. issues bonds due in 10 years with a stated interest rate of 6% and a face value of $500,000 for $538,972. Interest payments are made semi-annually June 30 and December 31. The market rate for this type of bond is 5%. Instructions: Prepared the necessary Journal entries for 2021 and 2022

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