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How to find the journal entry that allegro

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Point 1: On January 1, 2020, Allegro Company issues 5-year bonds with a face value of $15,000,000 and a stated annual interest rate of 4%. The bonds pay interest semiannually on June 30 and December 31. The market rate of interest is 5%, and the company receives cash proceeds of $14,343,595 when the bonds are issued.

Question 1: Can explain how to find the journal entry that Allegro will make to record the second bond interest payment on December 31, 2020?

Reference no: EM132480652

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