Business, 12.12.2019 03:31 okokalyssa

On the first day of its fiscal year, chin company issued $10,000,000 of five-year, 7% bonds to finance its operations of producing and selling home improvement products. interest is payable semiannually. the bonds were issued at a market (effective) interest rate of 8%, resulting in chin company receiving cash of $9,594,415.
a. journalize the entries to record the following:

issuance of the bonds.
first semiannual interest payment. the bond discount amortization, using the straight-line method, is combined with the semiannual interest payment. (round your answer to the nearest dollar.)
second semiannual interest payment. the bond discount amortization, using the straight-line method, is combined with the semiannual interest payment. (round your answer to the nearest dollar.)
for a compound transaction, if an amount box does not require an entry, leave it blank. round your answers to the nearest dollar.

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On the first day of its fiscal year, chin company issued $10,000,000 of five-year, 7% bonds to finan...

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