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On January 1, 2017, Gore Co. sold to Cey Corp. $800,000 of its 10% bonds for $708,236 to yield 12%. Interest is payable semiannually on

On January 1, 2017, Gore Co. sold to Cey Corp. $800,000 of its 10% bonds for

$708,236 to yield 12%. Interest is payable semiannually on January 1 and July 1.

2. What will be the cash outlay for interest in 2018?

3. What will be interest expense for the year ended 12/31/2018?

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