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Journalize the entry for the first interest payment

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Question - On the first day of the fiscal year, a company issues a $477,000, 9%, 10-year bond that pays semiannual interest of $21,465 ($477,000 x 9% x 1/2), receiving cash of $500,900. Journalize the entry for the first interest payment and amortization of premium using the straight-line method.

Reference no: EM133089637

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