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On January 1, 2020, Kentwood Company issued bonds with a face value of 1,000,000. The bonds carry a stated interest of 7% payable each January

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On January 1, 2020, Kentwood Company issued bonds with a face value of 1,000,000. The bonds carry a stated interest of 7% payable each January 1 . The bonds are issued at 102. The journal entry to issue the bond will include: CR Interest Payable 71,400 CR Bonds Payable 930,000

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