On the first day of the fiscal year nixon company issues a, Financial Accounting

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On the first day of the fiscal year nixon company issues a

On the first day of the fiscal year, Nixon Company issues a $923,000, 7%, 10-year bond that pays semi-annual interest of $32,305 ($923,000 x 7% x 1/2), receiving cash of $969,200. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method.

If an amount box does not require an entry, leave it blank, or enter zero "0".

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Financial Accounting: On the first day of the fiscal year nixon company issues a

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Financial Accounting: On the first day of the fiscal year nixon company issues a

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