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Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $7,600,000, 8%, 8-year bond that pays semiannual interest

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Issuing Bonds at a Discount On the first day of the fiscal year, a company issues a $7,600,000, 8%, 8-year bond that pays semiannual interest of $304,000 ($7,600,000 ~ 8% x 12), receiving cash of $7,173,108. Journalize the bond issuance. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash

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