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Journalize the first interest payment and the amortization

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Question - Discount Amortization - On the first day of the fiscal year, a company issues a $4,200,000, 10%, five-year bond that pays semiannual interest of $210,000 ($4,200,000 × 10% × ½), receiving cash of $4,041,710.

Journalize the first interest payment and the amortization of the related bond discount. If an amount box does not require an entry, leave it blank.

Reference no: EM133046791

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