Business, 06.12.2019 22:31, kleighlamb4901

On the first day of the fiscal year, lisbon co. issued $1,000,000 of 10-year, 7% bonds for $1,050,000, with interest payable semiannually. orange inc. purchased the bonds on the issue date for the issue price. if lisbon uses the straight-line method for amortizing the premium, the journal entry to record the first semiannual interest payment by lisbon co. would include a debit toa. interest payable for $30,000 b. cash for $70,000 c. interest expense for $32,500 d. premium on bonds payable for $5,500

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On the first day of the fiscal year, lisbon co. issued $1,000,000 of 10-year, 7% bonds for $1,050,00...