On March 1, 2003, Devone Corporation issued $50,000 of 10%, five-year bonds at 118. The bonds were

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On March 1, 2003, Devone Corporation issued $50,000 of 10%, five-year bonds at 118. The bonds were dated March 1, 2003, and interest is payable on March 1 and September 1. Devone records amortization using the straight-line method. Devone’s financial reporting year ends on December 31. Provide all necessary journal entries on each of the following dates: 1. March 1, 2003. 2. September 1, 2003. 3. December 31, 2003. 4. March 1, 2008.

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