Allen Media Group issues $$2,000,000$ of $8\%,10$ year bonds dated January $1,2022,$ that pay

semiannual interest on June $30$ and December $31.$ The bonds were issued at a price of $$1,795,000.$

Prepare the journal entry to record the bonds' issuance.

For each semi$-$annual period, compute a$.$ the cash payment, b$.$ the straight line discount, and

c$.$ the bond interest expense.

Determine the bond interest expense over the life of the bond.

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