Chrome File Edit View History Bookmarks People Window Help -84% 0, Wed 10:46 AM

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Chrome File Edit View History Bookmarks People Window Help -84% 0, Wed 10:46 AM E CengageNOWv2 Online teaching and learning resource from Cengage Learning v2.cengagenow.com/ilrn/takeAssignment takeAssignmentMain.doPinvokers&takeAssignmentSessionLocator;=assignment-takeBinprogress-false Chapter 11 Assignment 1. BE.1101 2. BE.11-03 3. BE.11-06 ALGO 4. EX.11-05 ALGO 5. EX.11-010.AP.1 ALGO 6. PR.11-02.ALGO 7. PR.11-04.AP.1 AND.AP.2.AL... eBook Show Me How Calculator Discount Amortization On the first day of the fiscal year, a company issues a $2,500,000, 4%, five-year bond that pays semiannual interest of $50,000 ($2,500,000 x 496 ½), receiving cash of $2,400,000. 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 Check My Work Previous Next Progress: 2/7 items 29

Explanation / Answer

Interest expense 60000          Discount on Bonds payable 10000           Cash 50000

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