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Ava, Inc., issued 8% bonds, dated January 1 , with a face amount of $267,600 on January 1, 2020 for an issue price of 94.2

image text in transcribed Ava, Inc., issued 8% bonds, dated January 1 , with a face amount of $267,600 on January 1, 2020 for an issue price of 94.2 The bonds mature in 10 years. For bonds of similar risk and maturity the market yield is 10%. Interest is paid annually on December 31 . When recording the payment of interest on December 31, 2020, what is the amount of the debit to interest expense? Ava, Inc., issued 8% bonds, dated January 1 , with a face amount of $267,600 on January 1, 2020 for an issue price of 94.2 The bonds mature in 10 years. For bonds of similar risk and maturity the market yield is 10%. Interest is paid annually on December 31 . When recording the payment of interest on December 31, 2020, what is the amount of the debit to interest expense

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