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Franklin Corporation issues $83,000, 10%, five-year bonds on January 1 for $86,700. Interest is paid semiannually on January 1 and July 1. If Franklin uses

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Franklin Corporation issues $83,000, 10%, five-year bonds on January 1 for $86,700. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is a. $6,640 b. $3,690 c. $3,320 Cd. $3,780

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