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Business, 29.05.2021 20:10 jarednash015

On January 1, 2022, Blue Corporation issued $1,610,000 face value, 8%, 10- year bonds at $1,506,675. This price resulted in an effective-interest rate of 9% on the bonds. Blue uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. Required:
Prepare the journal entry to record the issuance of the bonds on January 1, 2022.

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On January 1, 2022, Blue Corporation issued $1,610,000 face value, 8%, 10- year bonds at $1,506,675....
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