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On January 1, ABC Company issues bonds with a face value of $1,000,000 and pay 6% interest semi-annually on June 30 and December 31 .
On January 1, ABC Company issues bonds with a face value of $1,000,000 and pay 6% interest semi-annually on June 30 and December 31 . The bonds mature in 10 years. ABC issues the bonds and receives $1,075,000cash. Record the journal entry to issue the bonds. Your journal entry should be in the following format: Debit Account Name Amount Credit Account Name Amount
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