On January 1, the first day of the fiscal year, a company issuesa $5,000,000, 6%, 10-year bond that.
On January 1, the first day of the fiscal year, a company issuesa $5,000,000, 6%, 10-year bond that pays semiannual interest of$150,000 ($5,000,000 x 6% x ½ year), receiving cash of$5,000,000.
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