On August 1,Clayton Co.issued $1,300,000 of 20-year,9% bonds,dated August 1,for $1,225,000.Interest is payable semiannually on February 1 and August 1.Present the entries to record the following transactions for the current year:

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The Answer of On August 1,Clayton Co.issued $1,300,000 of 20-year,9% bonds,dated August 1,for $1,225,000.Interest is payable semiannually on February 1 and August 1.Present the entries to record the following transactions for the current year: