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Journalize the entry to record the first interest payment

Question - On the first day of the fiscal year, a company issues a $749,000, 7%, five-year bond that pays semi-annual interest of $26,215 ($749,000 x 7% x 1/2), receiving cash of $704,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount for the six-month period using the straight-line method.

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Accounting Basics: Journalize the entry to record the first interest payment

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