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MKC issued 100 000 of 8%, 10 year bonds dated 1/1/16. The bonds pay interest each...

MKC issued 100 000 of 8%, 10 year bonds dated 1/1/16. The bonds pay interest each 12/31 and were sold to yield 9%. On 3/1/18 all of the bonds are repurchased on the open market at 99 plus accrued interest and retired. MKC uses effective interest rate method. Prepare all entries from 1/1/16 to 3/1/18

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