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Please journalize the following entries. Please show all work. 21. July 1. Mr. Burns issued $500,000, 10 years (semi annual payments) coupon rate of 10%,

Please journalize the following entries. Please show all work.

21. July 1. Mr. Burns issued $500,000, 10 years (semi annual payments) coupon rate of 10%, market rate of 12%. Mr. Smithers gave this bond the code name Bond #1

22. July 1. Mr. Burns issued $400,000 bond (Bond #2) 10 years (semi-annual payments) coupon rate of 12%, market rate of 10%.

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