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Problems Problem 1 Worth 12 points on January 1, Parson Freight company issues 8.0%. 10-year bonds with a pat value $3,700,000. The bonds pay interest

Problems Problem 1 Worth 12 points on January 1, Parson Freight company issues 8.0%. 10-year bonds with a pat value $3,700,000. The bonds pay interest semiannually The market rate of interest on issuance date is 100% What is the selling price of the bond? What is the journal entry on issuance of bond? Use the Tables B.1 and 1.3

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