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On January 1, 2010, Bright star Inc. issuer $1,000,000 of 8%, semiannual 3- year coupon...

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Accounting

On January 1, 2010, Bright star Inc. issuer $1,000,000 of 8%, semiannual 3- year coupon bonds with yield to maturity of 10%. The present value of all future cash flows is $949,242

1. Make Journal entries at the time of issuance

2. Make Journal entries at the first and the second coupon payment

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