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Please answer requirement 2 as well please On January 1, Daughtry Industries issues 4 percent, 10-year bonds payable with a maturity value of $550,000. The

Please answer requirement 2 as well please

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On January 1, Daughtry Industries issues 4 percent, 10-year bonds payable with a maturity value of $550,000. The bonds sell at 94 and pay interest on January 1 and July 1. Daughtry Industries amortizes any bond discount or premium by the straight-line method. Requirements 1. Record the issuance of the bonds on January 1. 2. Record the semiannual interest payment and amortization of any bond discount or premium on July 1. Requirement 1. Record the issuance of the bonds on January 1. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts Debit Credit Jan 1

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