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Colson Corporation issues bonds to finance an expansion of its hot swimwear line. The $50,000 in bonds is issued on April 1, 20X4 and pays

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Colson Corporation issues bonds to finance an expansion of its hot swimwear line. The $50,000 in bonds is issued on April 1, 20X4 and pays interest in the amount of 5 percent annually. Interest payments are made semiannually, every April 1 and October 1. Record the journal entry necessary for each of the following: a. The issuance of the bonds. Debit Credit b. The payment of interest on October 1, 20X4 Debit Credit c. The interest accrual on December 31, 20X4 Debit Credit d. The payment of interest on April 1, 20X5 Debit Credit

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