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Martinez Corp. issues 880, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show a debit to Cash for $844800. credit to Discount on Bonds Payable for $35200. credit to Bonds Payable for $844800. debit to Cash of $880000.

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Martinez Corp. issues 880, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry...
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