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On January 1, Elias Corporation issued 12% bonds with a face value of $95,000. The bonds are sold for $92,150. The bonds pay interest semiannually
On January 1, Elias Corporation issued 12% bonds with a face value of $95,000. The bonds are sold for $92,150. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is Oa. $950 Ob. $11,685 Oc. $11,400 Od. $2,850
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