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Record the sale of these bonds on january

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Reference no: EM132420312

Clooney Corporation issued 3,000 7%, 5-year, $1,000 bonds dated January 1, 2017, at face value. Interest is paid each January 1. Prepare a tabular summary to:

(a) Record the sale of these bonds on January 1, 2017.

(b) Adjust accounts on December 31, 2017, to record interest expense.

(c) Record interest paid on January 1, 2018.

Reference no: EM132420312

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