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On January 1, 2014, Milton Company Purchased at Face Value

Question 56

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On January 1, 2014, Milton Company purchased at face value, a $1,000,8% bond that pays interest on January 1 and July 1. Milton Company has a calendar year end. The adjusting entry on December 31, 2014, is On January 1, 2014, Milton Company purchased at face value, a $1,000,8% bond that pays interest on January 1 and July 1. Milton Company has a calendar year end. The adjusting entry on December 31, 2014, is

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