On January 1, Parson Freight Company issues 7.0%, 10-year bonds with a par value of...
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Accounting
On January 1, Parson Freight Company issues 7.0%, 10-year bonds with a par value of $3,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $3,262,169. The bond issuance should be recorded as:
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