Question: Refer to the information in RE14 1 Assume Canglon uses the

Refer to the information in RE14-1. Assume Canglon uses the effective interest method to amortize the discount. Prepare the journal entry to record the first interest payment.
In RE14-1
Canglon, Inc issues 10%, 5-year bonds with a face value of $150,000 when the effective rate is 12%. Interest is to be paid semiannually

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