A company issued 8-year, 5% bonds with a par value of $350,000. The company received proceeds of

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A company issued 8-year, 5% bonds with a par value of

$350,000. The company received proceeds of $373,745.

Interest is payable semiannually. The amount of premium amortized for the first semiannual interest period, assuming straight-line bond amortization, is:

a. $2,698.

b. $23,745.

c. $8,750.

d. $9,344.

e. $1,484.

AppendixLO1

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Financial Accounting Information For Decisions

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4th Edition

Authors: John J. Wild

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A company issued 8-year, 5% bonds with a par value of $350,000. The company received proceeds of

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Financial Accounting Information For Decisions

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