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What is the journal entry the company

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Point 1: Morgan Company issues 20-year bonds with a face value of $20,000,000 and a stated annual interest rate of 5%. The bonds pay interest annually on December 31. The market rate of interest on the date of issue is 4%.

Question 1: What is the journal entry the company would make on the date the bonds are issued?

Reference no: EM132480691

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