On May 1, Holiday Company issued $200,000, 9%, 10-year bonds for $213,591 when the market rate was
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On May 1, Holiday Company issued $200,000, 9%, 10-year bonds for $213,591 when the market rate was 8%. Prepare the general journal entry for the first semiannual interest payment and bond premium amortization on November 1, using the effective interest method.
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