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Required information [The following information applies to the questions displayed below.] Ike issues...

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Accounting

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[The following information applies to the questions displayed below.] Ike issues $120,000 of 11%, three-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $123,044. When the market rate is 10%.

Record the issue of bonds with a par value of $120,000 on January 1, 2019 at an issue price of $123,044.

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