Initial recording on cash debt principal and debt discount

Reference no: EM13342454

Prepare the initial journal entry for the following:
Britney issued a debt instrument at 95% of par for $950. The debt matures in 5 years and carries an 8% annual Interest rate. Assume strait line amortization.

The initial recording on cash, debt principal and debt discount or premium and also year 1 journal entry

Reference no: EM13342454

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