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Swifty Corporation issues 1700, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The Journal entry to record the issuance will show a debit

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Swifty Corporation issues 1700, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The Journal entry to record the issuance will show a debit to Cash for $1666000 debit to Cash of $1700000 credit to Discount on Bonds Payable for $34000. credit to Bonds Payable for $1734000

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