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On January 1,2019 , JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each

On January 1,2019 , JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each July 1 and January 1 . Assume an effective-interest rate of 8%. Required: Prepare the company's journal entries for 1- The January 1 issuance. 2- The July 1 interest payment. 3- The Dec 31 adjusting entry

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