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Exhibit 14-8 Piazzi, Inc. sold $400,000 of its 9%, fiveyear bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest
Exhibit 14-8 Piazzi, Inc. sold $400,000 of its 9%, fiveyear bonds dated January 1, 2013, on May 1, 2013, for $393,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used.
3. Refer to Exhibit 14-8.
Interest expense after the July 1, 2013, interest payment has been posted is
a. $12,500.
b. $6,250.
c. $12,000.
d. $18,000.
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