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On January 1, Elias Corporation issued 8% bonds with a face value of $65,000. The bonds are sold for $63,050. The bonds pay interest semiannually

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On January 1, Elias Corporation issued 8% bonds with a face value of $65,000. The bonds are sold for $63,050. 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 a. $5,395 b. $1,950 c. $5,200 d. $433

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