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ABC Company invested $50,000 to buy $50,000 face value, 8%, five-year in municipal bonds on January 2, 2016. The bonds will mature on January 2,

ABC Company invested $50,000 to buy $50,000 face value, 8%, five-year in municipal bonds on January 2, 2016. The bonds will mature on January 2, 2021. The bonds pay interest semiannually on January 2 and July 2 every year till maturity. Based on the information provided, what is ABC Company's journal entry for this transaction on January 2, 2017?

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