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Record the issuance of the bonds

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Problem - Straight-Line Premium Amortization - On January 1, 2019, Hackman Corporation issued $1 million face value 12% bonds dated January 1, 2019, for $1,023,000. The bonds pay interest semiannually on June 30 and December 31 and are due December 31, 2023. Hackman uses the straight-line amortization method.

Required - Record the issuance of the bonds and the first two interest payments.

Reference no: EM132888793

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