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On January 1, 2021. Expresso Company sold $3,000,000 in long-term bonds. The bonds will mature in 20 years and have coupon interest rate of 6% and a yield rate of 9%. The bonds pay interest annually on Dec 31 of each year. The bonds are to be accounted for under the effective interest method. Instructions 1. Produce the journal entry bond issue. 2. Produce the entry for the first payment in June 30 Show calculations to obtain credit. Sole answers will not receive ANY credit. Edit Format Table