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  3. on the first day of the fiscal year, a company iss

On the first day of the fiscal year, a company issues a...

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Accounting

On the first day of the fiscal year, a company issues a $3,000,000,11%, five-year bond that pays semiannual interest of $165,000($3,000,000\times 11%\times (1)/(2)), receiving cash of $2,889,599.
Journalize the bond issuance. If an amount box does not require an entry, leave it blank.
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