Question: A company issues a $1,000,000, 10%, ten-year bond that pays semiannual interest of $50,000 ($1,000,000 10% ), receiving cash of $1,065,040. Journalize the

A company issues a $1,000,000, 10%, ten-year bond that pays semiannual interest of $50,000 ($1,000,000 × 10% × ½), receiving cash of $1,065,040. Journalize the bond issuance.

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