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Journalize the first interest payment

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Problem - Discount Amortization - On the first day of the fiscal year, a company issues a $2,700,000, 11%, 10-year bond that pays semiannual interest of $148,500 ($2,700,000 x 11% x 1/>), receiving cash of $2,402,502. Journalize the first interest payment and the amortization of the related bond discount.

Reference no: EM132955451

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