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Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021, Sparks Company sold $890,000 10-year, 8% bonds for $939,000. The bonds pay
Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021, Sparks Company sold $890,000 10-year, 8% bonds for $939,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line method of amortization. What is the amount of interest that Sparks must pay to bondholders in 2021? (Calculation of Interest Paid, Interest Expense and Carrying Value) On January 1, 2021. Sparks Company sold $890,000 10-year, 8% bonds for $939,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line method of amortization. What is the amount of interest expense associated with these bonds that Sparks will report for the year ended December 31. 2021
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