On January 1, Duffy Enterprises issued $100,000 in bonds that mature in 10 years. The...
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Accounting
On January 1, Duffy Enterprises issued $100,000 in bonds that mature in 10 years. The bonds were issued at 103. The bonds have a stated interest rate of 8%. The bonds pay interest once per year on December 31. Prepare the appropriate journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
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