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on January 1, Monty Corp. issues $2760000, 5 year, 12% bonds at 94 with interest payable on January 1. The entry on December 31 to
on January 1, Monty Corp. issues $2760000, 5 year, 12% bonds at 94 with interest payable on January 1. The entry on December 31 to record accrued bond interest and tje amortization of bond discount using the straight-line method will include a
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