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1) On January 1st, a company issues a $300,000, 10%, five-year bond at 98%. The...

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Accounting

1) On January 1st, a company issues a $300,000, 10%, five-year bond at 98%. The market interest rate is 12%.

Entry to record the issuance of the bond.

Entry to record annual interest for year 1.

If interest is paid quarterly, the entry to record interest on April 1st

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