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Journal entry to record the bonds issuance

Response to the following problem:

Heathrow issues $2,500,000 of 6%, 15-year bonds dated January 1, 2011, that pays interest semiannually on June 30 and December 31. The bonds are issued at a price of $2,160,279. a.Prepare the January 1, 2011, journal entry to record the bonds issuance.

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Accounting Basics: Journal entry to record the bonds issuance

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