Question: Dean Plumbing issues $1,000,000 face value, noninterest-bearing bonds on December 31, 2012. The bonds are issued at 65 and mature on December 31, 2016. Required:

Dean Plumbing issues $1,000,000 face value, noninterest-bearing bonds on December 31, 2012. The bonds are issued at 65 and mature on December 31, 2016.

Required:
Assuming the straight-line amortization method is followed prepare the journal entry on December 31, 2015.

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