A corporation issues $417000, 10%, 5-year bonds on January 1, 2020, for $399600. Interest is paid annually on January 1.

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A corporation issues $417000, 10%, 5-year bonds on
January 1, 2020, for $399600. Interest is paid annually on January
1. If the corporation uses the straight-line method of amortization
of bond discount, the amount of bond interest expense to be
recognized in December 31, 2020’s adjusting entry is
The board of directors of Novak Corp. declared a cash
dividend of $1.85 per share on 49000 shares of
common stock on July 15, 2020. The dividend is to be paid on August
15, 2020, to stockholders of record on July 31, 2020. The correct
entry to be recorded on August 15, 2020, will include a