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Company issues 10 year bonds of 120,000 dollars on October 1,2015. The bonds pay an annual rate of interest of 5%. Interest payments are made

Company issues 10 year bonds of 120,000 dollars on October 1,2015. The bonds pay an annual rate of interest of 5%. Interest payments are made on June 1 and December 1 of each year. What amount of interest expense should the company record on December 1,2016 when interest is paid?

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