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Requirements

Journalize the transactions of Letourneau Communications, Inc.

At December $31,2021,$ after all year$-$end adjustments have been made, determine the

carrying amount of Letourneau's bonds payable, net.

For the six months ended July $1,2021,$ determine the following for Letourneau:

a$.$ Interest expense

b$.$ Cash interest paid

What causes interest expense on the bonds to exceed cash interest paid?