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Brief Exercise 10-17 (Part Level Submission) Oxford Inc. issues $5.83million,5-year,10% bonds at103, with interest payable on January 1. The straight-line method is used to amortize

Brief Exercise 10-17 (Part Level Submission)

Oxford Inc. issues $5.83million,5-year,10% bonds at103, with interest payable on January 1. The straight-line method is used to amortize bond premium.

Prepare the journal entry to record the sale of these bonds on January 1, 2014.

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