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A company issued $ 5 0 0 , 0 0 0 of 7 % bonds on October 1 , 2 0 2 3 for $

A company issued $

500, 000

7 %

bonds on October

1, 2023

for $

536, 798

to yield a

6 %

effective rate. The bonds were dated October

1, 2023,

and mature in

10

years, with interest payable annually on October

1

.

The adjusting journal entry on December

31, 2023

would include

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