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On January 1, 2021, Jones Company issues $200,000 of 4% 5-year bonds when the market rate is 5%. The bonds pay interest semiannually (twice a

On January 1, 2021, Jones Company issues $200,000 of 4% 5-year bonds when the market rate is 5%. The bonds pay interest semiannually (twice a year). The company actually receives $192,350. How much interest expense will the company record with each payment?

$3,235

$4,000

None of these.

$4,765

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