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Prepare the journal entries to record the bond transactions

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Question - On January 1, Year 1, Price Company issued $285,000 of five-year, 7 percent bonds at 97. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Prepare the journal entries to record the bond transactions for Year 1 and Year 2.

Reference no: EM133174029

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