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5) Fill in the missing answer: On November 1, 2024, Arch Services issued $332,000 of eight-year bonds with a stated rate of 14% at par.

5) Fill in the missing answer: On November 1, 2024, Arch Services issued $332,000 of eight-year bonds with a stated rate of 14% at par. Interest payments occur each April 30 and October 31. On December 31, 2024, Arch made an adjusting entry to accrue interest at year-end. What is the amount of Interest Expense that will be recorded on December 31, 2024? (Round your final answer to the nearest dollar.)

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