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John Prine Corporation issues $100,000 of bonds with a contract rate of 6 % (six percent) on January 1 st , 2013. These bonds pay

John Prine Corporation issues $100,000 of bonds with a contract rate of 6% (six percent) on January 1st, 2013. These bonds pay interest annually at December 31 for three years, expiring on December 31, 2015. The market rate is 5% (five percent!) on the date of issue. Prepare ALL entries for all three years. Please show your work.

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