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On March 1, 2014, Squeeks Corporation issued a $1 million face-value bond with 11%...

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Accounting

On March 1, 2014, Squeeks Corporation issued a $1 million face-value bond with 11% face interest rate and a maturity of fifteen years. The semi- annual interest payments are made on March 1 and September 1. The bond was issued at such a price as to yield 9.6%
b. Prepare the journal entry to record the sale of the bond on March 1,
2014.

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