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  3. Study Set
    Fundamental Accounting Principles Study Set 3
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    Exam 15: Bonds and Long-Term Notes Payable
  5. Question
    Seinfeld Corporation Issued $500,000,11%,3-Year Bonds When the Market Rate Was
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Seinfeld Corporation Issued $500,000,11%,3-Year Bonds When the Market Rate Was

Question 5

Question 5

Essay

Seinfeld Corporation issued $500,000,11%,3-year bonds when the market rate was 12%,and received $487,567.50 in proceeds.Prepare the journal entry to record the issuance of the bonds.The bonds pay quarterly interest.

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