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On January 1, the first day of the fiscal year, a company issues a $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000

On January 1, the first day of the fiscal year, a company issues a $7,500,000, 8%, five-year bond that pays semiannual interest of $300,000 ($7,500,000 x 8% x ), receiving cash of $7,811,873.

Journalize the first interest payment and the amortization of the related bond premium. Round to the nearest dollar. Refer to the Chart of Accounts for exact wording of account titles.

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TAUL TU ACCOUNTING EQUATION JOURNAL Score: 20/37 POST.REF DEBIT DATE ASSETS LIABILITIES DESCRIPTION CREDIT EQUITY 1 2 3

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