Discount on Bonds Payables = 791,000-743,500 =47,500
Semi-annual Discount amortization = 47,500/(5*2) = $4750
First Interest Payment and Discount Amortization
Interest expenses (31640+4750) | 36,390 | |
Discount on Bonds Payable | 4,750 | |
Cash | 31,640 |
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