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Franklin corporation issues $81,000, 8%, 5-year bonds on January 1, for $84,650. Interest is paid semiannually on January 1 and July 1. I Franklin uses

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Franklin corporation issues $81,000, 8%, 5-year bonds on January 1, for $84,650. Interest is paid semiannually on January 1 and July 1. I Franklin uses the straight-line method of amortization of bond premium, the amount of bond Interest expense to be recognized on July is a. $2,875 b. $3,605 c. $6,480 d. $3,240

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