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Discount Amortization On the first day of the fiscal year, a company issues a $4,600,000, 6%, 4-year bond that pays semiannual interest of $138,000 ($4,600,000

Discount Amortization

On the first day of the fiscal year, a company issues a $4,600,000, 6%, 4-year bond that pays semiannual interest of $138,000 ($4,600,000 6% ), receiving cash of $4,144,884.

Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank.

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