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On January 2, 2017, Chabot Sales issues $10,000 in bonds for $10,900. These are 5-year bonds with a stated rate of 4%, and pay semiannual

On January 2, 2017, Chabot Sales issues $10,000 in bonds for $10,900. These are 5-year bonds with a stated rate of 4%, and pay semiannual interest. Chabot Sales uses the straight-line method to amortize bond premium. Prepare the journal entry for the first interest payment on June 30, 2017.

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