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Journalize the first interest payment

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Question - On the first day of the fiscal year, a company issues a $2,600,000, 11%, 9-year bond that pays semi-annual interest of $143,000 ($2,600,000 x 11% x 1/2), receiving cash of $3,093,713.

Required - Journalize the first interest payment and the amortization of the related bond premium.

Reference no: EM133177679

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