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Compute the total cost of borrowing for these bonds

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Reference no: EM132550772

Question - Jacobson Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2012. The bonds pay interest twice a year.

Instructions -

1. Prepare the journal entry to record the issuance of the bonds.

2. Compute the total cost of borrowing for these bonds.

Reference no: EM132550772

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