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PERFORMANCE QUESTION Magnificent Company issued a $20,000,000 bond on January 1 of year 1, with an annual interest rate of 6%, paid semiannually, with a

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PERFORMANCE QUESTION Magnificent Company issued a $20,000,000 bond on January 1 of year 1, with an annual interest rate of 6%, paid semiannually, with a maturity (payable) date S years later. Assume the bo A. Prepare the journal entry to record the sale of the bond on January 1, Year 1 B. Prepare the journal entry to record the first semi-annual interest payment on the bond C. Prepare the journal entry to record the payment of the bond on the maturity date in year S D. What would the January 1, journal entry be if the bond was sold for $19,500,000 instead of at face

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