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Mayberry, Inc., issued $100, 000 of 10-year, 12% bonds dated April 1, 2016, for $102, 360 on April 1, 2016. The bonds pay interest annually

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Mayberry, Inc., issued $100, 000 of 10-year, 12% bonds dated April 1, 2016, for $102, 360 on April 1, 2016. The bonds pay interest annually on April 1, beginning in 2017. Straight amortization is used by the company. What entry is required at April 1, 2017 for the first interest payment

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