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Prepare the journal entries for January

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Reference no: EM132921990

Question - The Martinez Company issued $310,000 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 101.

Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Martinez Company records straight-line amortization semiannually.

Reference no: EM132921990

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