Crane Companyissued $4900000of6%,10-year bonds on one of its interest dates for $4232000to yield an effective annual rate

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Crane Companyissued $4900000of6%,10-year bonds on one of its interest dates for $4232000to yield an effective annual rate of8%. The effective-interest method of amortization is to be used. How much bond interest expense (to the nearest dollar) should be reported on the income statement for the end of the first year?

Posted Date: Jun 23, 2024 10:00 AM

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Crane Companyissued $4900000of6%,10-year bonds on one of its interest dates for $4232000to yield an effective annual rate

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