Question: Journal entry help please! On 7/1/21, ABC sold 10% bonds having a maturity value of $1,000,000 for $1,081,105, resulting in an effective yield of 8%.The

Journal entry help please!

On 7/1/21, ABC sold 10% bonds having a maturity value of $1,000,000 for $1,081,105, resulting in an effective yield of 8%.The bonds are dated 7/1/21, and mature 7/1/26.Interest is payable semiannually on July 1 and January 1.ABC uses the effective interest method ofamortization for bond premium or discount.Record the adjusting entry for the accrual of interest and the related amortization on 12/31/21.

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