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A corporation issues $345000, 10%, 5-year bonds on January 1, 2020, for $330600. Interest is paid annually on January 1. If the corporation uses the
A corporation issues $345000, 10%, 5-year bonds on January 1, 2020, for $330600. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2020s adjusting entry is
$37380.
$2880
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