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Journalize the entry to record the first interest payment

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Question - On the first day of the fiscal year, a company issues a $827,000, 10%, 10-year bond that pays semiannual interest of $41,350 ($827,000 x 10% x 1/2), receiving cash of $868,400. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.

Reference no: EM133051794

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