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ssuing Bonds at a Discount On the first day of the fiscal year, a company...

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Accounting

ssuing Bonds at a Discount

On the first day of the fiscal year, a company issues a $5,200,000, 11%, 8-year bond that pays semiannual interest of $286,000 ($5,200,000 11% ), receiving cash of $4,937,247.

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

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