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[The following information applies to the questions displayed below.] Schlitterbahn Waterslide Company issued 44,000, 10-year, 7 percent, $100 bonds on January 1 at face value.
[The following information applies to the questions displayed below.]
Schlitterbahn Waterslide Company issued 44,000, 10-year, 7 percent, $100 bonds on January 1 at face value. Interest is payable each December 31.
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(a) The issuance of these bonds on January 1.
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(b) The first interest payment on December 31.
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Prepare the journal entries related for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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