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Make the first interest payment and the amortization

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Reference no: EM132605678

Question - Discount Amortization

On the first day of the fiscal year, a company issues a $1,400,000, 7%, 10-year bond that pays semiannual interest of $49,000 ($1,400,000 × 7% × ½), receiving cash of $1,304,866.

Make the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

Reference no: EM132605678

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