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On the first day of the fiscal year, a company issues a $1,000,000,7%, five-year bond...

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Accounting

On the first day of the fiscal year, a company issues a $1,000,000,7%, five-year bond that pays semiannual interest of $35,000($1,000,0007%12), receiving cash of $884,171. Journalize the entry to record the issuance of the bonds.
If an amount box does not require an entry, leave it blank.
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