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Concord Cocrporation issued $416000, 5% 30 year bonds on January 1, 2022 at 103. Interest...

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Accounting

Concord Cocrporation issued $416000, 5% 30 year bonds on January 1, 2022 at 103. Interest is payable annually in January 1. Concord uses straight-line amortization for bond premium or discount.Prepare the jounal entry to record the accrual of interest and the premium amortization on December 31, 2022

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