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  1. business
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  3. on january 1, year 1, price company issued $162,00

On January 1, Year 1, Price Company Issued $162,000 of five-year, 9 percent bonds at...

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Accounting

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On January 1, Year 1, Price Company Issued $162,000 of five-year, 9 percent bonds at 96 . Interest is payable annually on December 31 . The discount is amortized using the straight-line method. Required Prepare the journal entrles to record the bond transactions for Year 1 and Year 2 . (If no entry Is required for a transaction/event, select "No journal entry requlred" In the flrst account fleld.)

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