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TMC issued $50 million of its 12% bonds on April 1, 2011, at 98 plus accrued interest. The bonds aredated January 1, 2011, and mature

TMC issued $50 million of its 12% bonds on April 1, 2011, at 98 plus accrued interest. The bonds aredated January 1, 2011, and mature on December 31, 2030. Interest is payable semiannually on June 30and December 31.

Prepare TMC's journal entry for the bond issuance

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