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10 Banshee Ltd issues $12 million in 8-year, 8%, semi-annual coupon debentures. The rate of return required by the market is 12%. What is the

10
  1. Banshee Ltd issues $12 million in 8-year, 8%, semi-annual coupon debentures. The rate of return required by the market is 12%. What is the journal entry to record the first payment of interest assuming that Banshee uses the effective-interest method to amortise any discount or premium (round to the nearest dollar)?

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