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How journalize first interest payment and the amortization

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Reference no: EM132956427

On the first day of the fiscal year, a company issues a $6,600,000, 9%, 7-year bond that pays semiannual interest of $297,000 ($6,600,000 × 9% × ½), receiving cash of $5,679,796.

Problem 1: Journalize the first interest payment and the amortization of the related bond discount.

Reference no: EM132956427

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