Question: Exam 3 Modules 9 and 1 0 Saved Help Save & Exit Submit 2 5 On January 1 , a company issues bonds dated January

Exam 3 Modules 9 and 10 Saved Help Save & Exit
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On January 1, a company issues bonds dated January 1 with a par value of $430,000. The bonds mature in 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 $412,577. The journal entry to record the issuance of the bond is:
Submit 25 On January 1, a company issues bonds dated January 1

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