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Question 1 (5 points) Below is the beginning of an amortization schedule for a bond issued on January 1, 2019. 1/1/2019 963,041.03 | 12/31/2019 100,000.00
Question 1 (5 points) Below is the beginning of an amortization schedule for a bond issued on January 1, 2019. 1/1/2019 963,041.03 | 12/31/2019 100,000.00 105,934.51 5 ,934.51 968,975.54 12/31/2020 100,000.00 106,587.31 6,587.31 975,562.85 12/31/2021 100,000.00 107,311.91 7,311.91 982,874.77 12/31/2022 100,000.00 108,116.22 8,116.22 990,990.99 12/31/2023 100,000.00 109,009.01 9,009.01 1,000,000.00 Which of the below journal entries would be appropriate for the issuer to recognize the coupon payment made on 12/31/2020? 106,587.31 Interest expense Premium on Bond Cash 6,587.31 100,000.00 106,587.31 Interest Expense Discount on Bond Cash 6,587.31 100,000.00 106,587.31 Oo oo Interest expense Cash 106,587.31 106,587.31 Cash Discount on Bond Bond Payable 6,587.31 100,000.00 100.000 Interest expense Cash 100,000
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