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12. On January 1, 2020, Huda Co. sold 12% bonds with a face value of $600,000. The bonds mature in five years, and interest is
12. On January 1, 2020, Huda Co. sold 12% bonds with a face value of $600,000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $646,200 to yield 10%. Using the effective-interest method of amortization, interest expense for 2020 is (2 points) $60,000 564 436 564,620 $72.000
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