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The Martinez Company issued $370,000 of 11% bonds on January 1, 2017. The bonds are due...

The Martinez Company issued $370,000 of 11% bonds on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1 and January 1. The bonds are issued at face value.

Prepare Martinez’s journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.

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