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Question 9 1 Point On the first day of the fiscal year, Lisbon Co. issued $1,000,000 of 10-year, 7 % bonds for $1,050,000, with
Question 9 1 Point On the first day of the fiscal year, Lisbon Co. issued $1,000,000 of 10-year, 7 % bonds for $1,050,000, with interest payable semiannually. Orange Inc. purchased the bonds on the issue date for the issue price. The journal entry to record the amortization of the bond premium (by straight-line method) for the year by Orange Inc. includes a credit to: (A) Interest Revenue for $2,500 B Interest Revenue for $5,000 Investment in Lisbon Co. Bonds $2,500 Investment in Lisbon Co. Bonds $5,000
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