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On the first day of the fiscal year, a company issues a $923,000, 11%, 10-year bond that pays semi-annual interest of $50,765 ($923,000 x 11%
On the first day of the fiscal year, a company issues a $923,000, 11%, 10-year bond that pays semi-annual interest of $50,765 ($923,000 x 11% x 1/2), receiving cash of $969,200. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.
If an amount box does not require an entry, leave it blank, or enter zero "0".
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