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Metlock, Inc. issued $282.000,7%. 15-year bonds on December 31, 2021. for $253.800. Interest is payable annually on December 31. Metlock uses the straight-line method to
Metlock, Inc. issued $282.000,7%. 15-year bonds on December 31, 2021. for $253.800. Interest is payable annually on December 31. Metlock uses the straight-line method to amortize bond premium or discount. (a ). (b) Your answer is partially correct. Prepare the journal entry to record the payment of interest and the discount amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31. 2022 Interest Expense Discount on Bonds Payable Cash e Textbook and Media
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