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On the First Day of the Current Fiscal Year, $1,000,000

Question 105

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On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannually, were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:
On the first day of the current fiscal year, $1,000,000 of 10-year, 7% bonds, with interest payable semiannually, were sold for $1,050,000. Present entries to record the following transactions for the current fiscal year:

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