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The Long-Term Debt section of Chesapeake's Balance Sheet at December 31,2022 showed the following: The journal entry to record the interest payment on June 30.

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The Long-Term Debt section of Chesapeake's Balance Sheet at December 31,2022 showed the following: The journal entry to record the interest payment on June 30. 2023, assuming a market interest rate of 9% would include: a Credit to Discount on Bonds Payable of $3,900 a Credit to Premium on Bonds Payable of $3.900 a Debit to Cash $41,400 a Credit to Interest Expense of $41,400 a Debit to Interest Expense of $37,500

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