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On January 1, 2021, Backpack Corporation issued $4,000,000,10-year, 8% bonds at 98 . Prepare the journal entry to record the issuance of the bonds on

On January 1, 2021, Backpack Corporation issued $4,000,000,10-year, 8% bonds at 98 . Prepare the journal entry to record the issuance of the bonds on January 1,2021

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