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Prepare the journal entry for the issuance of bonds on jan

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On January 1, 2020, Company A sold $8,000,000 of 5-year bonds at $7,396,800. The bonds have a coupon rate of 9%, and pay interest semi-annually on June 31 and December 31. The company incurred direct costs related to the issue of the bond of $280,010.

problem 1: Prepare the journal entry for the issuance of the bonds on January 1, 2020.

Reference no: EM132796795

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