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On the first day of the fiscal year, a company issues a $950,000, 8%, five-year bond that pays semi-annual interest of $38,000, receiving cash of
On the first day of the fiscal year, a company issues a $950,000, 8%, five-year bond that pays semi-annual interest of $38,000, receiving cash of $884,170. Journalize the entry to record the issuance of the bonds.
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