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On the first day of the fiscal year, a company issues a $359,000, 9%, 10-year bond that pays semiannual interest of $16,155 ($359,000 x 9% x 1/2), receiving cash of $377,000. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.

If an amount box does not require an entry, leave it blank.

blank
Interest Expense=

Premium on Bonds Payable=

Cash=



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