Record the following transactions for the current year

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Reference no: EM131109670

On August 1, Clayton Co. issued $1,300,000 of 20-year, 9% bonds, dated August 1, for $1,225,000. Interest is payable semiannually on February 1 and August 1. Present the entries to record the following transactions for the current year.

Reference no: EM131109670

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