Homework Answers
| Journal entry of interest payment | ||
| Particulars | Dr | Cr |
| Cash | 3,217,299 | |
| Discount on bonds payable | 582,701 | |
| Bonds payable | 3,800,000 | |
| Interest expense | 159,622 | |
| Discount on bonds payable ( 582701/14) | 41,622 | |
| Cash | 118,000 |
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