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Duval Co. issues four-year bonds with a $100,000 par value on January 1, 2019, at a price of$95,952. The annual contract rate is 7%, and interest is paid semiannually on June 30 and December 31.
- Prepare a straight-line amortization table for these bonds.
- Prepare journal entries to record the first two interest payments.
- Prepare the journal entry for maturity or the bonds on December 31, 2022 (assume semiannual interest is already recorded).
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