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Required information [The following infomation applies to the questions displayed below] On Jonuary 1, when the market interest rate was 9 percent, Seton Corporation completed

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Required information [The following infomation applies to the questions displayed below] On Jonuary 1, when the market interest rate was 9 percent, Seton Corporation completed a $290,000,8 percent bond issue for $271,387. The bonds pay interest each December 31 and mature in 10 years. Assume Seton Corporation uses the effective-interest method to amortize the bond discount. Required: 1. \& 2. Prepare the required joumal entries to record the bond issuance and the first interest payment on December 31 . (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to the nearest whole doltar) Journal entry worksheet 2 Record the issusnce of bonds for $271,387 with a face value of $290,000. Jotelinder debi in Bendore creald

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