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on the first day of the fiscal year, a company issues an $7,500,000,8%, five-year bond that pays semiannual interest of $300,000 (7,5000,000~A~8%A~o`), receiving cash of

on the first day of the fiscal year, a company issues an $7,500,000,8%, five-year bond that pays semiannual interest of $300,000 (7,5000,000~A~8%A~o`), receiving cash of $7,740,000. Journalize the bond issuance.

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