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XYZ Corporation issued $900,000 of 10 year, 7% bonds on May 1 of the current year at face value, with interest payable semi- annually on

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XYZ Corporation issued $900,000 of 10 year, 7% bonds on May 1 of the current year at face value, with interest payable semi- annually on May 1 and November 1. Journalize the entries to record the following transactions: . Issued the bonds for cash at their face amount on May 1 . Paid the first semi-annual interest on the bonds on November 1 . Retired the bonds at the end of 10 years

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