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Prepare the journal entry to record the issuance of bonds

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Reference no: EM132318500

Question

Monty Corp. issues $350,000 of bonds for $353,500.

Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Show how the bonds would be reported on the balance sheet at the date of issuance. (Enter account name only and do not provide descriptive information.)

Reference no: EM132318500

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