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Review the following transactions of Lamore Communications, Inc.: (i) (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions of
Review the following transactions of Lamore Communications, Inc.: (i) (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions of Lamore Communications Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) January 1, 2021: Issued $5,000,000 of 9%,10-year bonds payable at 94 . Interest payment dates are July 1 and January 1. Requirements 1. Journalize the transactions of Lamore Communications, Inc. 2. At December 31, 2021, after all year-end adjustments have been made, determine the carrying amount of Lamore's bonds payable, net. 3. For the six months ended July 1, 2021, determine the following for Lamore: a. Interest expense b. Cash interest paid What causes interest expense on the bonds to exceed cash interest paid
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