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Business, 31.05.2020 05:00 batmanmarie2004

On the first day of the fiscal year, a company issues an $882,000, 8%, five-year bond that pays semiannual interest of $35,280 ($882,000 x 8% x 1/2), receiving cash of $829,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method. If an amount box does not require an entry, leave it blank.

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On the first day of the fiscal year, a company issues an $882,000, 8%, five-year bond that pays semi...
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