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On January 1, 2008, Kentwood Company issued bonds with a face value of $500,000. The...

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Accounting

On January 1, 2008, Kentwood Company issued bonds with a face value of $500,000. The bonds carry a stated interest of 7% payable each January 1 and July 1. (5 points) Instructions Prepare the journal entry for the issuance assuming the bonds are issued at 97. Prepare the journal entry for the issuance assuming the bonds are issued at 102.

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