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n July 1 Year 1, uvingston Corporation, a wholesaler of manufacturing equipment, issued $46,000,000 of 20 year 10% bonds at a market effective interest rate

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n July 1 Year 1, uvingston Corporation, a wholesaler of manufacturing equipment, issued $46,000,000 of 20 year 10% bonds at a market effective interest rate of 1 1 % receiving ash of 42,309,236. Interest on the bonds is payable semiannually on December 31 and une 30. The fiscal yeaof the company is the calendar yea Required: For all journal entries with a compound transaction, if an amount box does not require an entry, leave it blank 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1, Year 1. For a compound transaction, if an amount box does not require an entry, leave it blank 2,30,236 Cash Discount on Bonds Payable m Bonds Payable 6,000,00 2. Journalize the entries to record the following a The first semiannual interest payment on December 31, Year 1, and the amortization of the bond discount, using the straight-line does not require an entry, leave it blank. Round to the nearest dollar method. (For a compound transaction, if an amount box Cash Interest Expense

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