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On January 1, Parson Freight Company issues 7.5%, 10-year bonds with a par value of $3,100,000. The bonds pay interest semiannually. The market rate of
On January 1, Parson Freight Company issues 7.5%, 10-year bonds with a par value of $3,100,000. The bonds pay interest semiannually. The market rate of interest is 8.5% and the bond selling price was $2,889,352. The bond issuance should be recorded as
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