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Prepare the payroll entry to record the bond issue

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Reference no: EM132666183

On January 1, 2022, the Martines company sold $ 5,000,000 in 10-year bonds at 9%. Interest is payable on January 1st and July 1st. The company uses the straight line system to amortize the discount or premium on the bonds. The bonds were sold for 102.

Problem 1: Prepare the payroll entry to record the bond issue on 1/1/2022.

Reference no: EM132666183

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