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4. Smith Inc. issued $10,000 6% bonds on January 1, 2021. If matures in 5 years. Interest is paid every Dec. 31st. The effective rate

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4. Smith Inc. issued $10,000 6% bonds on January 1, 2021. If matures in 5 years. Interest is paid every Dec. 31st. The effective rate is 8%. REQUIRED: Prepare the general journal entries for 2021, 2022, and 2023

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