Question: Journalize the following transactions: a. Set up a sinking fund with an initial deposit of $6,900. b. Earned $240 interest on sinking fund balance. c.

Journalize the following transactions:
a. Set up a sinking fund with an initial deposit of $6,900.
b. Earned $240 interest on sinking fund balance.
c. Sinking fund of $17,000 was used to pay off bondholders in the amount of $17,000.

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