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On January 1, 2017, Klosterman Company issued $599,000,14%, 10-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to

On January 1, 2017, Klosterman Company issued $599,000,14%, 10-year bonds at face value. Interest is payable annually on January 1.

Prepare the journal entry to record the payment of interest on January 1, 2018

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