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The bonds were issued on January 1 and are 5 year bonds. Face value of bonds 200,000 Stated interest rate 5% The bonds were issued

The bonds were issued on January 1 and are 5 year bonds. Face value of bonds 200,000 Stated interest rate 5% The bonds were issued at 101 The company uses straight line amortization. Interest payment dates July 1 January 1 Prepare the journal entry to issue the bonds. Prepare the 2 journal entries to record the interest for the year.

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