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Journalize the first interest payment and the amortization

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Question - Premium Amortization - On the first day of the fiscal year, a company issues a $4,200,000, 11%, 10-year bond that pays semiannual interest of $231,000 ($4,200,000 x 11% x 1/2), receiving cash of $4,461,707. Journalize the first interest payment and the amortization of the related bond premium.

Reference no: EM133164551

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