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On the first day of the current fiscal year, $ 2 , 0 0 0 , 0 0 0 of 1 0 - year, 7

On the first day of the current fiscal year, $2,000,000 of 10-year, 7% bonds, with interest payable amnually, were sold for $2,125,000. Journalize the entry to record the issuance of the bonds.

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