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Prepare the general journal entry to record interest payment

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Question - On April 1, a company issues 6%, 10-year, $600,000 par value bonds that pay interest semiannually each March 31 and September 30. The bonds sold at $592,000. The company uses the straight-line method of amortizing bond discounts. Prepare the general journal entry to record:

a) the issuance of the bond on April 1.

b) the first interest payment on September 30.

Reference no: EM132745869

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