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On January 1, 2024, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming

On January 1, 2024, White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each year. Assuming the market interest rate on the issue date is 6%, the bonds will issue at $644,161. Record the first annual interest payment

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