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Journalize the first interest payment

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Reference no: EM133049118

Question - Discount Amortization - 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.

Required - Journalize the first interest payment and the amortization of the related bond discount.

Reference no: EM133049118

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