On January 1, 2013, North Company issued $2,000,000 of bonds with a stated rate of 10% that

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On January 1, 2013, North Company issued $2,000,000 of bonds with a stated rate of 10% that are due to mature December 31, 2022, and pay interest semiannually. The market rate of interest was 9% at the date of issuance. Prepare the journal entry for the sale of the bonds on January 1, 2013.

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1111822361

1st edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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