Question: Nicholas Ram Corporation have a $1,500,000 bond issue dated March 1, 2016 due in 15 years with an annual interest rate of 6%. Interest is

Nicholas Ram Corporation have a $1,500,000 "bond issue" dated March 1, 2016 due in 15 years with an annual interest rate of 6%. Interest is payable March 1 and September 1. On August 1, 2016, the bond was sold for $1,578,750 plus acerued interest. Using the straight-line method, prepare the general journal entries for each of the following

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