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he Coca-Cola Company issued bonds with a face value of $5,000,000 at a discount. The bonds have a stated interest rate of 6% and mature

he Coca-Cola Company issued bonds with a face value of $5,000,000 at a discount. The bonds have a stated interest rate of 6% and mature in 15 years. Calculate the total amount of cash proceeds received from the bond issuance and the journal entry to record the transaction. Also, determine the amount of discount amortization for the first year using the effective interest method.

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