Novak Corp. issued 2,000 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022.
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has the following current assets: cash, $1,200; receivables, $1,500; inventory, $2,000 and other current assets, $1,300.
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