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Question 12 2.5 pts Falcon issued $500,000 of its ten-year, 5% bonds for $463,197 on October 1, 2019. The effective rate on the bonds was

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Question 12 2.5 pts Falcon issued $500,000 of its ten-year, 5% bonds for $463,197 on October 1, 2019. The effective rate on the bonds was 6%. Interest is paid each October 1 and April 1. Assuming Falcon uses the effective interest method, the adjusting entry on December 31, 2019, would include (rounded to the nearest dollar): a debit to Interest Expense for $5,552. O a debit to Interest Expense for $5,790. O a credit to Cash for $6,250. O a credit to Discount on Bonds Payable for $698

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