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Morgan Company issues 20-year bonds with a face value of $20,000,000 and a stated annual interest...

Morgan Company issues 20-year bonds with a face value of $20,000,000 and a stated annual interest rate of 5%. The bonds pay interest annually on December 31. The market rate of interest on the date of issue is 4%.

what is the journal entry the company would make on the date the bonds are issued?

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20 Face Value $2,00,00,000 Stated Rate 5.00% Coupon Payment Annually Market Rate 4.00% Maturity Period 20 Coupon payment freq

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