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On January 1 of 2015, Parson Freight Company issues 8.5%, 10-year bonds with a par...

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Accounting

On January 1 of 2015, Parson Freight Company issues 8.5%, 10-year bonds with a par value of $4,300,000. The bonds pay interest semi-annually. The market rate of interest is 9.5% and the bond selling price was $4,007,812. The bond issuance should be recorded as:

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