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Bryan Company issued $660,000 of 8% face value bonds on January 1, 2016, for $644,880....

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Accounting

Bryan Company issued $660,000 of 8% face value bonds on January 1, 2016, for $644,880. The bonds are due December 31, 2018, and pay interest semiannually on June 30 and December 31. Bryan uses the straight-line amortization method.

Required:

Prepare the journal entries to record the issuance of the bonds and the first two interest payments.

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