On July 1,2013,Gallatin Corporation issued bonds with a face value of $1,000,000.The bonds carry a face interest rate of 10 percent that is payable each July 1 and January 1.
a.Prepare the entry in journal form without explanation for the issuance assuming the bonds are issued at 97.
b.Prepare the entry in journal form without explanation for the issuance assuming the bonds are issued at 102.
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