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Franklin Corporation issues $88,000, 10%, five-year bonds on January 1 for $92,000. Interest is paid semiannually on January 1 and July 1. If Franklin uses
Franklin Corporation issues $88,000, 10%, five-year bonds on January 1 for $92,000. 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
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