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STUCK! Please help! Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount...

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Accounting

STUCK! Please help!

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Pretzelmania, Inc., issues 7%, 15-year bonds with a face amount of $54,000 for $59, 292 on January 1, 2018. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31. Record the bond issue and first interest payment on June 30, 2018

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