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On March 1, 2019, Cupola Corporation issued 10% bonds with a face value of $2,000,000. The bonds were dated March 1, 2019. These bonds mature
On March 1, 2019, Cupola Corporation issued 10% bonds with a face value of $2,000,000. The bonds were dated March 1, 2019. These bonds mature in five years, and interest is paid semiannually on March 1 and September 1 . The market interest rate at the time of issuance is 12%.Prepare the journal entries for the following dates if Cupola Corporation uses the straight - line method to amortize discount/premium. Do not use thousands comma separator in your answers. 9/1/2019 Dr. Interest Expense 12/31/2019 Cr. Discount on B/P Dr. Interest Expense Cr.Discount on B/P Cr.Interest Payable
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