December 31, 2025, Ford issues $2,000,000 face value, 5%, 5-year bonds. Interest is paid semiannually...
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December 31, 2025, Ford issues $2,000,000 face value, 5%, 5-year bonds. Interest is paid semiannually each June 30 & December 31. The bonds sell at a price of 96 and the company uses the straight-line method of amortizing bond discount/premium.
Record the first semiannual payment of interest and amortization of discount/premium on the bonds at June 30, 2026.
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