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On January 1, 2022, Pharoah Company issued $305,500, 6%, 5-year bonds at face value. Interest...

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Accounting

On January 1, 2022, Pharoah Company issued $305,500, 6%, 5-year bonds at face value. Interest is payable annually on January 1.Prepare the journal entry to record the payment of interest on January 1, 2023

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