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Current Attempt in Progress On January 1 , 2 0 2 5 , Blue Corporation issued $ 5 0 0 , 0 0 0 of

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On January 1,2025, Blue Corporation issued $500,000 of 7% bonds, due in 10 years. The bonds were issued for $466,025, and pay
interest each July 1 and January 1. Blue uses the effective-interest method.
Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31
adjusting entry. Assume an effective-interest rate of 8%.(Round answers to 0 decimal places, e.g.38,548. If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not
indent manually. List all debit entries before credit entries.)
No.
Date
Account Titles and Explanation
Debit
Cred
(a)
(b)
(c)
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