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A bond is issued for $750,000 on November 30th to get funds for a couple...

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Accounting

A bond is issued for $750,000 on November 30th to get funds for a couple of investments . The bond is an 8 year, quarterly bond with a 5% stated rate. It was issued at a 4% market rate. No entries have been made for the bond at all.

Using the effective interest rate how would you record the bond when issued and the interest for the end of the fiscal year?

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