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Prepare bridgeport journal entries for the january issuance

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Reference no: EM132815138

The Bridgeport Company issued $320,000 of 8% bonds on January 1, 2020. The bonds are due January 1, 2025, with interest payable each July 1 and January 1. The bonds are issued at face value.

Problem 1: Prepare Bridgeport's journal entries for the January issuance, the July 1 interest payment, and (c) the December 31 adjusting entry.

Reference no: EM132815138

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