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On the first day of its fiscal year, Ebert Company issued $ 2 0 , 0 0 0 , 0 0 0 of S -

On the first day of its fiscal year, Ebert Company issued $20,000,000 of S-year, 8% bonds to finance its operations. Interest is payable setsremaly market (effective) interest rate of 10%, resulting in Ebert recerving cash of $18,455,592. The company uses the interest method.d. Journalize the entres to record the following:Sale of the bonos, kound to the nearest dollar. I an amount box does not require an entry, leave it blank.

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