On the first day of the fiscal year a company issues a 2 500

Last updated: 11/21/2023

On the first day of the fiscal year a company issues a 2 500 000 8 5 year bond that pays semiannual interest of 100 000 2 500 000 x 8 x 2 receiving cash of 2 300 000 Using straight line amortization journalize the first interest payment and the amortization of the related bond discount If an amount box does not require an entry leave it blank 8 Interest Expense Discount on Bonds Payable 20 000 X