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Jan Company sells 5-year bonds with a face value of $100,000 for $97,000. Interest is paid semiannually on October 1 and April 1. Using the

Jan Company sells 5-year bonds with a face value of $100,000 for $97,000. Interest is paid semiannually on October 1 and April 1. Using the straight-line method of amortization and a contract rate of 10%, for how much will Interest Payable be credited in the adjusting entry on December 31?

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