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On January 1, 2022, Sein Company issued $300,000, 8%, 7 year bonds, interest payable semiannually on June 30 and December 31. The market rate of
On January 1, 2022, Sein Company issued $300,000, 8%, 7 year bonds, interest payable semiannually on June 30 and December 31. The market rate of interest was 6%, and the bonds were issued for $333,889. Using effective interest method, determine the interest expense (rounded to the nearest dollar) recorded on December 31, 2022.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
