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DiscountAmortization On the first day of the fiscal year, a company issues a $4,600,000, 6%, 6-yearbondthat pays semiannual interest of $138,000 ($4,600,000 6% ), receiving
DiscountAmortization
On the first day of the fiscal year, a company issues a $4,600,000, 6%, 6-yearbondthat pays semiannual interest of $138,000 ($4,600,000 6% ), receiving cash of $4,377,743.
Journalize the first interest payment and the amortization of the related bond discount.Round to the nearest dollar.
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