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Kiwano Corporation issues $500,000, 10%, 5-year bonds on January 1, 2019 for $540,554. Interest is paid semiannually on January 1 and July 1. If the

Kiwano Corporation issues $500,000, 10%, 5-year bonds on January 1, 2019 for $540,554. Interest is paid semiannually on January 1 and July 1. If the corporation uses the straight-line method of amortization of bond premium, what is the amount of bond interest expense to be recognized on July 1, 2019? SHow your calculations

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