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Schlitterbahn Waterslide Company issued 32,000, 10-year, 5 percent, $100 bonds on January 1 at face...

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Accounting

Schlitterbahn Waterslide Company issued 32,000, 10-year, 5 percent, $100 bonds on January 1 at face value. Interest is payable each December 31. (a) The issuance of these bonds on January 1. (b) The first interest payment on December 31. Prepare the journal entries related for the above transactions.

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