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Question 2 . On January 1, 2016, JetNew Corp. issued $300,000 of 8%, 5-year bonds, with annual interest payments on January 1. The bonds were

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Question 2 . On January 1, 2016, JetNew Corp. issued $300,000 of 8%, 5-year bonds, with annual interest payments on January 1. The bonds were issued at face value. Note JetNew uses the effective-interest method of amortization. A. Prepare the necessary journal entries to record the issuance of the bonds, December 31, 2016 year-end entries if required and the first interest payment. B. Prepare the journal entry to record the bond's maturity

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