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On January 1, Elias Corporation issued 696 bonds with a face value of $87,000. The bonds are sold for $84,390. The bonds pay interest semiannually
On January 1, Elias Corporation issued 696 bonds with a face value of $87,000. The bonds are sold for $84,390. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31,10 years from now. Elas records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is a. 35,481 b. 3435 c. 52,610 d. 55,220
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