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What is the journal entry to record the issuance of the bonds? On January 1,2021 , Vaughn Corporation issued $540,000 of 6% bonds due on

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What is the journal entry to record the issuance of the bonds?

On January 1,2021 , Vaughn Corporation issued $540,000 of 6% bonds due on January 1,2029 when the market rate was 4%. The company uses the effective interest method to amortize any bond premium or discount. The bonds pay semi-annual interest on June 30 and December 31 of every year

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