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On January 1, 2020, Ainsle Corp. issued $600,000, 7%, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1. The market interest...
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Question

On January 1, 2020, Ainsle Corp. issued $600,000, 7%, 10-year bonds.

The bonds pay semi-annual interest on July 1 and January 1. The market interest rate at the time of issue was 6%.
Instructions
Part B) Record the issuance of the bonds on January 1, 2020. 

Step-by-step answer

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