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Marin Corporation issued $580,000of9% bonds on November 1, 2017, for $619,414. The bonds were dated November 1, 2017, and mature in10years, with interest payable each

Marin Corporation issued $580,000of9% bonds on November 1, 2017, for $619,414. The bonds were dated November 1, 2017, and mature in10years, with interest payable each May 1 and November 1. Marin uses the effective-interest method with an effective rate of8%.

Prepare Marin's December 31, 2017, adjusting entry.

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