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On January 1, Di Corporation issued $1,000,000 14%, 5-year bonds with interest payable on July 1 and January 1. The bonds sold for $1,098,540. The
On January 1, Di Corporation issued $1,000,000 14%, 5-year bonds with interest payable on July 1 and January 1. The bonds sold for $1,098,540. The market rate of interest for these bonds was 12%. On the first interest date, using the effective-interest method, the debit entry to Bond Interest Expense is for
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