Assume the bonds of Exercise 11-8 sold for ($ 948,685) and that Frissel Corporation uses the interest
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Assume the bonds of Exercise 11-8 sold for \(\$ 948,685\) and that Frissel Corporation uses the interest method to amortize bond discount or premium. Prepare general journal entries to accrue interest on December 31, 1990, and to record the first payment of interest on May 1, 1991.
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