Question: Chapters 14 &16 Saved Help Save& Exit Submit On January 1, a company issues bonds dated January 1 with a par value of $400,000. The

Chapters 14 &16 Saved Help Save& Exit Submit On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature n 5 years The contract rate is 7%. and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for S383793 The journal entry to record the issuance of the bond is: 2 01 16:25

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