CengageNOWv2| Online teachin × Cengage Learning x b Answered: CengageNOWv2| Onli x i v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLoca. ☆ 00 Ch 14-2 Practice Exercises Discount Amortization On the first day of the fiscal year, a company issues a $7,400,000, 8%, 9-year bond that pays semiannual interest of $296,000 ($7,400,000 × 8% × ½), receiving cash of $6,950,082. 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. Interest Expense 320,995.45 X Discount on Bonds Payable 24,995.45 K Cash 296,000 Feedback Check My Work 2:35 PM P Type here to search 3/17/2020 II

CengageNOWv2| Online teachin × Cengage Learning x b Answered: CengageNOWv2| Onli x i v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLoca. ☆ 00 Ch 14-2 Practice Exercises Discount Amortization On the first day of the fiscal year, a company issues a $7,400,000, 8%, 9-year bond that pays semiannual interest of $296,000 ($7,400,000 × 8% × ½), receiving cash of $6,950,082. 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. Interest Expense 320,995.45 X Discount on Bonds Payable 24,995.45 K Cash 296,000 Feedback Check My Work 2:35 PM P Type here to search 3/17/2020 II

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 2MC

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