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On the first day of the fiscal year, a company issues a $990,000, 9%, 5-year...

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Accounting

On the first day of the fiscal year, a company issues a $990,000, 9%, 5-year bond that pays semiannual interest of $44,550 ($990,000 x 9% 1/2), receiving cash of $884,177. 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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