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Issuing Bonds at a Premium On the first day of the fiscal year, a company...

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Accounting

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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $2,900,000,7%, 6-year bond that pays semiannual Interest of $101,500 (52,900,000 * 7% x V), receiving cash of $3,360,028. Joumalize the bond issutice. If an amount box does not require an entry, leave it blank Cash 3.360,028 Discount on Bonds Payable Bonds Payable 2,900,000

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