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On January 1, 2013, Lane issues $700.000 of 7%, 15-year bonds at a price of 106 3/4. The interest payments are made on June 30

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On January 1, 2013, Lane issues $700.000 of 7%, 15-year bonds at a price of 106 3/4. The interest payments are made on June 30 and December 31. Lane elects a fiscal year ending September 30. What is the amount that would be recorded as cash paid in the December 31, 2013, journal entry? $12, 250 $13, 458 $11, 462 $22, 925 $24, 500

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