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Prepare the issuer journal entry to record bond issuance

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Question - On November 1, 2013, a company issued 10-year, 9% bonds, with a par value of $500,000 when the market rate was 9.5%. The issuer received $484,087 in cash proceeds. Prepare the issuer's journal entry to record the bond issuance.

Reference no: EM132033777

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