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Kropp Travel Company issues $1,500,000 of its 12%,10-year bonds at 102 on January 1, Year 1. The bonds pay interest semi-annually on June 30 and
Kropp Travel Company issues $1,500,000 of its 12%,10-year bonds at 102 on January 1, Year 1. The bonds pay interest semi-annually on June 30 and December 31. Assume that Kropp uses the straight-line method for amortization. When Kropp makes her first interest payment on June 30, Year 1, she will debit Interest Expense for $
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