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XYZ Corporation issued $ 2 0 , 0 0 0 , 0 0 0 of 5 year, 6 % bonds on May 1 of the
XYZ Corporation issued $ of year, bonds on May of the current year at face value, with interest payable semiannually on May and November The bonds were issued at a market interest rate of resulting in XYZ Corporation receiving cash of $ Journalize the entries to record the following transactions:
Issuance of the bonds on May
Paid the first semiannual interest on the bonds on November
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