On January 1, 2024, Lizzys Lemonade issues 5%, 20-year bonds with a face amount of $100,000 for
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On January 1, 2024, Lizzy’s Lemonade issues 5%, 20-year bonds with a face amount of $100,000 for $88,443, priced to yield 6%. Interest is paid semiannually. What amount of interest expense will be recorded on June 30, 2024, the first interest payment date?
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