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On the first day of the current fiscal year, $1, 500,000 of 10-year, 8% bonds with interest payable semiannually, were sold for $1, 225,000. Present
On the first day of the current fiscal year, $1, 500,000 of 10-year, 8% bonds with interest payable semiannually, were sold for $1, 225,000. Present entries to record the following transactions for the current fiscal year. (a) Issuance of the bonds. (b) First semiannual interest payment. (c) Amortization of bond discount for the year, using the straight-line method of amortization
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