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Interest is payable annually on december

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On January 1, 2013, Chu Company issued $300,000 of five year, 6 percent bonds at 101. Interest is payable annually on December 31. The premium is amortized using the straight line method. 

Required: 

Prepare the journal entries to record the bond transactions for 2013 and 2014.

Reference no: EM13924534

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