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On January 1,2022, Blossom Company issued bonds with a face value of $500,000. The bonds carry a stated interest of 6% payable each January 1.

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On January 1,2022, Blossom Company issued bonds with a face value of $500,000. The bonds carry a stated interest of 6% payable each January 1. Prepare the journal entry for the issuance assuming the bonds are issued at 101. (Credit account titles are outomatically indentec when the amount is entered. Do not indent manually.)

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