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Pizza Pier issues 9%, 11-year bonds with a face amount of $70,000 for $75, 058 on January 1, 2015. The market interest rate for bonds

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Pizza Pier issues 9%, 11-year bonds with a face amount of $70,000 for $75, 058 on January 1, 2015. The market interest rate for bonds of similar risk and maturity is 8%. Interest is paid semiannually on June 30 and December 31. Record the bond issue. Record the first interest payment on June 30, 2015

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