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Suppose la z boy issued $150,000 5-year, 14% bonds on January 1,2019 when the market rate was 12%. Interest is payable semi annually each June

Suppose la z boy issued $150,000 5-year, 14% bonds on January 1,2019 when the market rate was 12%. Interest is payable semi annually each June 30 and December 31. Use the effective interest rate method of amortization for this equation.

Prepare a journal entry to record the bond issuance.

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