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A company issued 10-year, 9% bonds with a par value of $500,000 when the market...

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Accounting

A company issued 10-year, 9% bonds with a par value of $500,000 when the market rate was 10%. Using the straight-line method, prepare the issuer's journal entries to record (a) the issuance of the bonds, and (b) the first semiannual interest payment and the amortization of any bond discount or premium.

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