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Morgan corporation issues 100000 of 5 paid annually

Question - Morgan Corporation issues $100,000 of 5% (paid annually), three-year bonds on June 1. The bonds were sold for $102,000.

Prepare the journal entry to record the bond issue. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

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Accounting Basics: Morgan corporation issues 100000 of 5 paid annually

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Accounting Basics: Morgan corporation issues 100000 of 5 paid annually

Reference No:- TGS02457528

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