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Prepare the journal straight-line amortization semiannually

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The Nash Company issued $230,000 of 12% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 98.

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

Reference no: EM131804641

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