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Myrtle Company sells $100,800 of 17%, 18-year bonds for 97 on April 1, 2020. The market rate of interest on that day is 17 50%

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Myrtle Company sells $100,800 of 17%, 18-year bonds for 97 on April 1, 2020. The market rate of interest on that day is 17 50% Interest Company made the following adjusting entry: (Click the icon to view the journal entry) Write the journal entry required at April 1, 2021 (Record debits first, then credits. Explanations are not required. Round your answers to the nearest whole dollar) Journal Entry 2021 Accounts Debit Credit Apr ay is 17 50%. Interest is paid each year on April 1. Myrtle Company uses the straight-line amortization method On December 31, 2020, Myrtle - * Journal entry dollar.) Journal Entry 2020 Accounts Debit Credit Dec 12.978 31 interest Expense Discount on Bonds Payable Interest Payable 126 12,852 Print Done

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