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On October 1, Indiana Company Issued $40,000, 10%, 5-Year Bonds

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On October 1, Indiana Company issued $40,000, 10%, 5-year bonds at 102. What is the adjusting entry on December 31 using the straight-line method? On October 1, Indiana Company issued $40,000, 10%, 5-year bonds at 102. What is the adjusting entry on December 31 using the straight-line method?

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