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On January 1 Renewable issues bonds that have a 48000 par value mature in 10 years and pay 12% interest semiannually on June 30 and

On January 1 Renewable issues bonds that have a 48000 par value mature in 10 years and pay 12% interest semiannually on June 30 and December 31 prepare the journal entry for issuance assuming the bonds are issued at (a)99 and be 1031/2

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