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Q1) ABC Corporate Type: 10-year bonds Date of Issue: March 1, 2006. Total Bond Stated Value at issuance: $500,000,000 Stated Bonds Annual Interest Rate: 10% Market Annual Interest Rate: 8% Interest payments: Every 6 months Year-end for ABC Corporate: Dec 31

problem: Illustrate journal entries in 2006. (Reminded year-end for ABC Corporate is Dec 31, adjusting is required)

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