1. is paid semiannually on June 30 and December 31...
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Accounting
1.
is paid semiannually on June 30 and December 31 . The market rate is 10% and the bonds are sold for $353,122. The journal entry to record the first interest payment using straight-line amortization is: (Rounded to the nearest dollar.) Muitiple Choice Debit Bond Interest Expense \$17.388, debit Premium on Bonds Payable \$1,312; credit Cash \$18,700. Debinterest Payable $18700; credit Cach 518700 Debt Bond Interest Expense \$20,012; credit Premuin on Eonds Poyable \$1,312; credit Cash $18,700 Debit Bond interest Expense 517,388 , deba Discowint on Bonds Payoble $1,312; credi Cosh 518,700 Debit Bond Interest Expense \$17,388; debit Premium on Bonds Payable \$1,312; credit Cash \$18,700. Debit Interest Payable \$18,700; credit Cash \$18,700. Debit Bond Interest Expense \$20,012; credit Premium on Bonds Payable \$1,312; credit Cash \$18,700. Debit Bond Interest Expense \$17,388; debit Discount on Bonds Payable $1,312; credit Cash $18,700. Debit Bond interest Expense $20,012; credit Discount on Bonds Payable $1,312; credit Cash $18,700
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