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on January 1, 2017 issued 268,500 9% 5 year bond at face value. Interest is payable annually. Journalize. Jan 1 -Debit Cash $268,500 -Credit Bond

on January 1, 2017 issued 268,500 9% 5 year bond at face value. Interest is payable annually.

Journalize.

Jan 1 -Debit Cash $268,500

-Credit Bond Payable $268,500

How do you journal to record the accrual of interest and show the solution of the answer

Debit -Interest Expense

Credit- Interest Payable

i need to know how to get the answer

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