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On January 1, 2016, Price Co. issued $319,000 of five-year, 6 percent bonds at 98. Interest is payable annually on December 31. The discount is

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On January 1, 2016, Price Co. issued $319,000 of five-year, 6 percent bonds at 98. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for 2016 and 2017

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