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On January 1, Grouper Corp. issues $2400000, 5-year, 12% bonds at 96 with interest payable...

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Accounting

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On January 1, Grouper Corp. issues $2400000, 5-year, 12% bonds at 96 with interest payable on January 1, The entry on December 31 to record accrued bond interest and the amortization of bond discount using the straight-line method will include a O credit to Discount on Bonds Payable, $9600. O credit to Discount on Bonds Payable, $19200. O debit to Interest Expense, $144000. O debit to Interest Expense, $288000

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