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27 August, 14:51

On August 1, 2022, Blue Spruce Corp. issued $481,200, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Blue Spruces year-end is December 31. Prepare journal entry to record the issuance of the bonds.

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  1. 27 August, 15:17
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    The journal entry for the issuance of bond will be: Cash credit by $481200

    and Bond receivable debit by $481200
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