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On the first day of the fiscal year, a company issues a $1,500,000,11%, five-year bond...

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Accounting

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On the first day of the fiscal year, a company issues a $1,500,000,11%, five-year bond that pays semiannual interest of $82,500 ($1,500,00011%1/2), receiving cash of $1,604,070. Journalize the bond issuance on January 1. Refer to the Chart of Accounts for exact wording of account titlos

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