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Seinfeld Corporation issued $500,000, 11%, 3-year bonds when the market rate was 12%, and received $487,567.50 in proceeds. Prepare the journal entry to record the

Seinfeld Corporation issued $500,000, 11%, 3-year bonds when the market rate was 12%, and received $487,567.50 in proceeds. Prepare the journal entry to record the issuance of the bonds. The bonds pay quarterly interest

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