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Business, 24.04.2020 16:29 cmcdonnell8812

A company issued $120,000 5-year, 7.50% bonds and received $121,365 in cash. The market rate of interest when the bonds were issued was 7.00%. What is the amount of interest expense to be recorded for the first annual interest period if the company uses simplified effective-interest amortization?

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A company issued $120,000 5-year, 7.50% bonds and received $121,365 in cash. The market rate of inte...
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