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Issuing Bonds at a Discount On the first day of the fiscal year, a company...

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Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $7,400,000, 8%, 7-year bond that pays semiannual interest of $296,000 ($7,400,000 x 8% Va), receiving cash of $7,021,757. Journalize the bond issuance. If an amount box does not require an entry, leave it blank

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