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On January 1, 2012, Danner Company purchased at face value, a $1,000, 10% bond that pays interest on January 1 and July 1. Danner Company

On January 1, 2012, Danner Company purchased at face value, a $1,000, 10% bond that pays interest on January 1 and July 1. Danner Company has a calendar year end. The adjusting entry on December 31, 2012, is
not required.

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