A company issued 5-year, 9.50% bonds with a par value of $116,000. The market rate when...

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A company issued 5-year, 9.50% bonds with a par value of $116,000. The market rate when the bonds were issued was 9.00 %. The company received $118,441 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $5,329.85 $11,020.00 $10,596.77 $2,755.00 $5,510.00. A company issued 5-year, 9.50% bonds with a par value of $116,000. The market rate when the bonds were issued was 9.00 %. The company received $118,441 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $5,329.85 $11,020.00 $10,596.77 $2,755.00 $5,510.00.