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Larkspur, Inc. issues $3.1 million, 10-year, 8% bonds at 103, with interest payable on January 1. The straight-line method is used to amortize bond premium.

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Larkspur, Inc. issues $3.1 million, 10-year, 8% bonds at 103, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2017, assuming no previous accrual of interest

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