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Braeburn issues $1,600,000 of 8%, 15-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. Requirement 1: Assume that
Braeburn issues $1,600,000 of 8%, 15-year bonds dated January 1, 2009, that pay interest semiannually on June 30 and December 31. Requirement 1: Assume that the bonds are issued at a price of $1,382,400. (1) Prepare the January 1, 2009, journal entry to record the bonds' issuance. (Omit the "$" sign in your response.) Date General Journal Debit Credit Jan. 1 2009 (2) For each semiannual period, compute the following (Round your answers to the nearest dollar amount. Omit the "$" sign in your response): Cash payment $ Straight-line discount amortization $ Bond interest expense $ (3) Determine the total bond interest expense to be recognized over the bonds' life. (Omit the "$" sign in your response.) Total bond interest expense $
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