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On the first day of the fiscal year, a company issues a $2,900,000, 12%, 5-year...

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Accounting

On the first day of the fiscal year, a company issues a $2,900,000, 12%, 5-year bond that pays semiannual interest of $174,000 ($2,900,000 12% ), receiving cash of $2,696,317.

Journalize the bond issuance. If an amount box does not require an entry, leave it blank.

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