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Cupola Fan Corporation issued 8%, $530,000, 10-year bonds for $507,000 on June 30, 2016, Debt issue costs were $2,800. Interest is paid semiannually on December

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Cupola Fan Corporation issued 8%, $530,000, 10-year bonds for $507,000 on June 30, 2016, Debt issue costs were $2,800. Interest is paid semiannually on December 31 and June 30. One year from the issue date (July 1, 2017), the corporation exercised its call privilege and retired the bonds for $515,000. The corporation uses the straight-line method both to determine interest expense and to amortize debt issue costs. Required: 1. to 4. Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 1 Record the issuance of the bonds. 2 Record the payment of interest. 3 Record the amortization of debt issue costs. 4 Record the payment of interest. 5 Record the amortization of debt issue costs. 6 Record the call of the bonds. Credit Note : = journal entry has been entered Record entry Clear entry View general journal

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