GNx Cengage keAssignment/takeAssignmentMain.dožinvoker-assignments&takeAssignmen

Question

GNx Cengage keAssignment/takeAssignmentMain.dožinvoker-assignments&takeAssignmentSessionLocator-assignment-take;&uinprogress; faise On the first day of te fiscal year, a company issues an $580,000, 8%, five-year bond that pays receiving cach of $545,200 Journalize the entry to record the first interest payment and the amortization of semiannual interest of $23,200 ($580,000 8% I1 an amount box does not require an entry, leave it blank. O NO Co F9 FIO FIF12Prt eskInsert Deleteomed F5 F6 F7 FB Sys Rq Break Num L Backspace 5 6 8 9 0 7 8 Home 4 G H JK L Enter

Explanation / Answer

interest expense 26,680 discount on bonds (580,000-545200)/10 3480 cash 23,200

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