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Journal entry Forest View issues $6,000,000 of 5%, 15 year bonds dated January 1, 20XX that pay interest semiannually on June 30 and December 31.

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Forest View issues $6,000,000 of 5%, 15 year bonds dated January 1, 20XX that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of 5,480,280. Please provide answers to the following questions. 1. Prepare the journal entry to record the issuance of the bonds. 2. Compute and journalize the first interest payment on June 30, 20XX. 3. Amortize the discount on the bonds. 4. Prepare the journal entries for the second round of interest payments and amortization on December 31, 20XX

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