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Whitmore Company issued $404,500 of 5-year, 5% bonds at 98 on January 1, 2017. The bonds pay interest annually. Prepare the journal entry to record

Whitmore Company issued $404,500 of 5-year, 5% bonds at 98 on January 1, 2017. The bonds pay interest annually.

Prepare the journal entry to record the issuance of the bonds.

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