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Journalize the first interest payment and the amortization

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Reference no: EM132876125

Question - Discount Amortization - On the first day of the fiscal year, a company issues a $4,600,000, 6%, 6-year bond that pays semiannual interest of $138,000 ($4,600,000 × 6% × ½), receiving cash of $4,377,743. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar.

Reference no: EM132876125

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