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1. Ratzlaff Company issues $2 million, 10-year, 8% bonds at 97, with interest payable onJuly 1 and January 1.
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2010.
(b) Assuming instead that the above bonds sold for 104, prepare the journal entry to record the sale of these bonds on January 1, 2010.
could you work this problem out step by step to show how to get answers? otter a partnership is not a taxpaying entity.
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