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On January 1 , 2 0 1 9 , TJ Max issued 1 0 % , 1 0 year bonds payable with a par value

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On January 1,2019, TJ Max issued 10%,10year bonds payable with a par value of $500,000. The bonds pay interest on July 1 and January 1. The bonds were issued for $525,000 cash. Prepare the general journal entry to record the first semiannual interest payment. The company uses the straight-line method of amortization.
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