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Question 30 1 pts On January 1, 2021, Jet Corporation issues $400,000, 5-year, 4% bonds at 92. Interest is paid semiannually on January 1
Question 30 1 pts On January 1, 2021, Jet Corporation issues $400,000, 5-year, 4% bonds at 92. Interest is paid semiannually on January 1 and July 1. Jet Corporation uses the straight-line method of amortization. The company's fiscal year ends on December 31. The necessary journal entry on December 31, 2021 includes: a credit to Interest Payable of $8,000 O a debit to Discount on Bonds Payable of $3,200 a credit to Interest Expense of 11,200 a credit to Cash of $8,000
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