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Problem 1. The following transactions take place: 1. On January 1, the city issued 9% general obligation bonds with a face value of $4,000,000 payable

Problem 1. The following transactions take place: 1. On January 1, the city issued 9% general obligation bonds with a face value of $4,000,000 payable in 10 years to finance the construction of city o...

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