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Question Content Area On the first day of the fiscal year, a company issues a $793,000, 10%, 10-year bond that pays semiannual interest of $39,650

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On the first day of the fiscal year, a company issues a $793,000, 10%, 10-year bond that pays semiannual interest of $39,650 ($793,000 x 10% x 1/2), receiving cash of $832,700. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.

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