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Posted on Jun 10, 2024

On January 1 , 2 0 2 2 , Cullumber Company sold to Flay Corporation $ 4 0 3 0 0 0 of its 8

On January

1, 2022,

Cullumber Company sold to Flay Corporation $

403000

of its

8 %

bonds for $

356774

to yield

10 % .

Interest is payable semiannually on January

1

and July

1 .

What amount should Cullumber report as interest expense for the six months ended June

30, 2022 ?

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