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  3. 14 on january 1, year 1. price co. issued $244,000

14 On January 1, Year 1. Price Co. issued $244,000 of five-year, 7 percent bonds...

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Accounting

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14 On January 1, Year 1. Price Co. issued $244,000 of five-year, 7 percent bonds at 95. Interest is payable annually on December 31. The discount is amortized using the straight-line method. Required Prepare the journal entries to record the bond transactions for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 8 01:55:10 View transaction list eBook Journal entry worksheet 3 Record the No journal entry required Bonds payable Cash Note: Enter deb Discount on bonds payable Date Debit Credit Jan 01 Record entry Clear entry View general journal

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