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Dweeb Industries decided to appropriate $40,000 of retained earnings during each of the last five years its $200,000 bonds are outstanding. Prepare the journal entry

Dweeb Industries decided to appropriate $40,000 of retained earnings during each of the last five years its $200,000 bonds are outstanding. Prepare the journal entry to record the initial appropriation and at retirement of the bonds on October 1, 2015.

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