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Prepare the journal entry for second semi-annual interest

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Reference no: EM132843848

On January 1, 2018 Bringham Company issues $600,000, 10 year, 6% semi-annual bonds. One the issue date, the market rate is 5%, receiving cash of $640,000.

Required:

Problem 1: Prepare the journal entry to record the issuance of the bond.

Problem 2: Prepare the journal entry for the first semi-annual interest payment and amortization of the bond discount or premium using the straight line method of amortization.

Problem 3: Prepare the journal entry for the second semi-annual interest payment and amortization of the bond discount or premium using the straight line method of amortization

Reference no: EM132843848

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