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Presented below is a partial amortization schedule for Fabulous Food Store: \table[[Period,Cash Paid,\table[[Interest],[Expense]],\table[[Increase...

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Accounting

Presented below is a partial amortization schedule for Fabulous Food Store:
\table[[Period,Cash Paid,\table[[Interest],[Expense]],\table[[Increase in],[Carrying Value]],\table[[Carrying],[Value]]],[Issue Date,$2,600,$2,992,$392,75,800],[1,2,600,3,008,408,75,192],[2,,,,75,600]]
Required:
& 2. Record the bond issue and first interest payment. Assume the face amount of bonds payable is $80,000.(If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
2
Record the bond issue.
Note: Enter debits before credits.
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