Business, 21.04.2020 16:32 synite

Cramer Corp. issued $20,000,000 of 5-year, 9% bonds at a market (effective) interest rate of 10%, receiving cash of $19,227,757. Interest on the bonds is payable semiannually. Required: Journalize the entry to record the first semiannual interest payment, and the amortization of the bond discount, using the interest method? Round your answers to the nearest dollar amount. Refer to the Chart of Accounts for exact wording of account titles.

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Cramer Corp. issued $20,000,000 of 5-year, 9% bonds at a market (effective) interest rate of 10%, re...

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