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Posted on Jul 21, 2024

Sanford Insurance Company issued a $ 5 0 , 0 0 0 , 5 % , 1 0 - year bond payable at 1 0

Sanford Insurance Company issued a $ $50, 000, 5 %, 10 -$ year bond payable at $108$ on January $1, 2025 .$ Interest is paid semiannually on January $1$ and July $1 .$

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Journalize the issuance of the bond payable on January $1, 2025 .$

Journalize the payment of semiannual interest and amortization of the bond discount or premium on July $1, 2025 .$

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