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Prepare the journal entry to record the sale

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Question - Pharoah Company issues $5,500,000, 10-year, 14% bonds at 96, with interest payable annually on January 1. The straight-line method is used to amortize bond discount.

Required - Prepare the journal entry to record the sale of these bonds on January 1, 2020.

Reference no: EM132476471

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