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On the first day of the fiscal year, a company issues a $970,000, 7%, five-year bond that pays semi-annual interest of $33,950, receiving cash of

On the first day of the fiscal year, a company issues a $970,000, 7%, five-year bond that pays semi-annual interest of $33,950, receiving cash of $884,178. Journalize the entry to record the issuance of the bonds.

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Bonds Payable

Cash

Interest Payable

Notes Payable

Premium on Bonds Payable

Correct 2

Correct 3

Correct 4

Bonds Payable

Discount on Bonds Payable

Interest Expense

Interest Revenue

Notes Payable

Correct 5

Correct 6

Correct 7

Bonds Payable

Cash

Discount on Bonds Payable

Interest Payable

Premium on Bonds Payable

Correct 8

Correct 9

Correct 10

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