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Question 1 Bonita Company acquires 69, 896, 5 year, $1,000 Community bonds on January 1, 2017 for $69000. Assume Community pays interest on January 1.

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Question 1 Bonita Company acquires 69, 896, 5 year, $1,000 Community bonds on January 1, 2017 for $69000. Assume Community pays interest on January 1. The journal entry at December 31, 2017 would include a credit to O Interest Receivable for $2760. O Interest Receivable for $5520. Accrued Expense for $5520 Interest Revenue for $5520. LINK TO TEXT

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