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Prepare the journal entries for january and july

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Question - The Pearl Company issued $300,000 of 10% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds were issued at 99.

Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Pearl Company records straight-line amortization semiannually.

Reference no: EM132550270

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