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  3. on january 1,2025, concord corporation issued $540

On January 1,2025, Concord Corporation issued $540,000 of 7% bonds, due in 10 years. The...

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Accounting

On January 1,2025, Concord Corporation issued $540,000 of 7% bonds, due in 10 years. The bonds were issued for $580,171, and pay interest each July 1 and January 1. The effective-interest rate is 6%.
Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Concord uses the effective-interest method. (Round answers to 0 decimal places, e.g.38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
No.
Date
Account Titles and Explanation
Debit
Cred
(a)
(b)
(c)
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