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On the first day of the fiscal year, a company issues a $7,500,000, 11%, 10-year bond that pays semiannual interest of $412,500 ($7,500,000 11% ),

On the first day of the fiscal year, a company issues a $7,500,000, 11%, 10-year bond that pays semiannual interest of $412,500 ($7,500,000 11% ), receiving cash of $6,308,175. Journalize the bond issuance. If an amount box does not require an entry, leave it blank

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