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Prepare the wage entries for the payment of interest

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On January 1, 2022, the Martines company sold $ 5,000,000 in 10-year bonds at 9%. Interest is payable on January 1st and July 1st. The company uses the straight line system to amortize the discount or premium on the bonds. The bonds were sold for 102.

Problem 1: Prepare the wage entries for the payment of interest and the amortization of the discount or premium during 2022

Reference no: EM132666184

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