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1. On January 1, 2021, Jackson Corporation issued $600,000, 12%, 10-year bonds at par. Interest is payable semiannually on June 30 and December 31. Required:

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1. On January 1, 2021, Jackson Corporation issued $600,000, 12%, 10-year bonds at par. Interest is payable semiannually on June 30 and December 31. Required: (a) Prepare the general journal entry to record the issuance of the bonds. (b) Prepare the general journal entry to record the June 30 interest payment

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