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Content Area Discount Amortization On the first day of the fiscal year, a company issues...

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Accounting

Content Area Discount Amortization On the first day of the fiscal year, a company issues a $8,600,000, 7%, 7-year bond that pays semiannual interest of $301,000 ($8,600,000 7% ), receiving cash of $8,145,787. Journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. If an amount box does not require an entry, leave it blank

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