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The Vaughn Company issued $340,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1

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The Vaughn Company issued $340,000 of 10% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds were issued at 102. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Vaughn Company records straight-line amortization semiannually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Cred (a) Jan. 1.2020 Cash Bonds Payable (b) July 1, 2020 Interest Expense Cash (c) Dec 31, 2020 Interest Expense (c) Dec 31, 2020 Interest Expense Cash

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