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On March 1, 2014, Peeks Corporation issued a $10 million face-value bond with...

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Accounting

On March 1, 2014, Peeks Corporation issued a $10 million face-value bond with 10% face interest rate and a maturity of fifteen years. The semiannual interest payments are made on March 1 and September 1. The bond was issued at a premium for $10,980,500.
Prepare the journal entry for the debtor to record the sale of the bond
on March 1, 2014.

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