Jessica Corporation issued $4,000,000,5-year, 8% bonds on January 1,2012 . The bonds were issued @ 87.53785 to yield an effective market rate of 10%. Interest is payable semi-annually on July 1 and January 1 . Financial statements are prepared on December 31st. Prepare the entry to record the sale of these bonds on 1/1/12. A A
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