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On January 1, a company issued and sold a $393,000, 6%, 10- year bond payable, and received proceeds of $388,000. Interest is payable each
On January 1, a company issued and sold a $393,000, 6%, 10- year bond payable, and received proceeds of $388,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is:
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Managerial Accounting
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
1st Canadian Edition
978-0132490252, 132490250, 978-0176223311
