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On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond that pays semiannual interest of $32,200 ($920,000 x 7%

On the first day of the fiscal year, a company issues a $920,000, 7%, five-year bond that pays semiannual interest of $32,200 ($920,000 x 7% x 1/2), receiving cash of $884,179. Journalize the entry to record the issuance of the bonds. If an amount box does not require an entry, leave it blankimage text in transcribed

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