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Instructions Luke Corp. issued $2,000,000 of 20-year, 996 callable bonds on July 1, Year 1, with interest payable on June 30 and December 31, The
Instructions Luke Corp. issued $2,000,000 of 20-year, 996 callable bonds on July 1, Year 1, with interest payable on June 30 and December 31, The fiscal year of the company is the calendar year. Year 1 July 1 Dec. 31 Year 5 Dec. 31 Issued the bonds for cash at their face amount. Paid the interest on the bonds. Called the bond issue at 97, the rate provided in the bond indenture. Required Journalize the entries to record the above selected transactions. Refer to the Chart of Accounts for exact wording of account titles
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