Four Thousand Bonds with a Face Value of $1,000 Each

question 176

Short Answer

Four thousand bonds with a face value of $1,000 each, are sold at 105. The entry to record the issuance is

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Definitions:

Federalist Party

A political party in the early United States that advocated for a strong federal government, a commercial economy, and close relations with Britain.

U.S. Navy

The naval warfare branch of the United States Armed Forces, responsible for naval defense and the protection of American interests abroad.

North African States

Countries located in the North African region, including Algeria, Egypt, Libya, Morocco, Sudan, Tunisia, and Western Sahara.

Barbary Pirates

Pirates who operated from North Africa, based primarily in the ports of Algiers, Tunis, and Tripoli, known for capturing and enslaving European merchants and travelers in the Mediterranean from the 16th to the 19th centuries.