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a company issued 11%, 10 year bonds with a par value of $3,700,000. Interest is...

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Accounting

a company issued 11%, 10 year bonds with a par value of $3,700,000. Interest is paid semiannually. The market interest rate on the issue date was 12% and the issuer received $3,560,000 cash for the bonds.

Record issuance of the bond and the first semiannual interest payment

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