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Madison Company issues $12,500 of bonds at face value on January 1 . The bonds carry an 8% annual stated rate of interest. Interest is

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Madison Company issues $12,500 of bonds at face value on January 1 . The bonds carry an 8% annual stated rate of interest. Interest is payable in cash on December 31 of each year. Which of the following reflects the financial statement effects of the first interest payment

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