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Prepare the entries to record the issuance of the bonds

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Reference no: EM132967799

Question - On January 1, 2021, Morris Enterprises issued 9%, 5-year bonds with a face amount of $900,000 at par. Interest is payable annually on January 1.

Prepare the entries to record the issuance of the bonds and the first annual interest accrual on December 31.

Reference no: EM132967799

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