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Grand Company issued $800,000, 10%, 20-year bonds on January 1, 2017, at 104. Interest is payable annually on January 1. Grand uses the straight-line method

Grand Company issued $800,000, 10%, 20-year bonds on January 1, 2017, at 104. Interest is payable annually on January 1. Grand uses the straight-line method of amortization and has a calendar year end.

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Prepare all journal entries made in 2017 related to the bond issue.

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