On the first day of the fiscal year a company issues a, Financial Accounting

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On the first day of the fiscal year a company issues a

On the first day of the fiscal year, a company issues a $4,000,000, 6%, five-year bond that pays semi annual interest of $120,000 ($4,000,000 × 6% × ½), receiving cash of $4,175,041.

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

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Financial Accounting: On the first day of the fiscal year a company issues a

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Financial Accounting: On the first day of the fiscal year a company issues a

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