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Marin Company issued $840,000 of 11%,20-year bonds on January 1,2020 , at 118.402 to yield 9%. Interest is payable semiannually on July 1 and January
Marin Company issued $840,000 of 11%,20-year bonds on January 1,2020 , at 118.402 to yield 9%. Interest is payable semiannually on July 1 and January 1. Prepare the journal entries to record (a) the issuance of the bonds, (b) the payment of interest and the related amortization on July 1 , 2020 , and (c) the accrual of interest and the related amortization on December 31, 2020. (Round answers to 0 decimal places, e.g. 125. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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