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5% on the first day of the current fiscal year, 1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for 1,225,000,

Present entries to record the following transactions for the current fiscal year:

a. issuance of the bonds

b. first semiannual interest payment

c. Amortization of bond discount for the year, using the straight-line method of Amortization

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M979307

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