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On January 3, 2020, Oriole Company acquires $530000 of Adam Company's 10-year, 10% bonds at a price of $562090 to yield 9%. Interest is payable
On January 3, 2020, Oriole Company acquires $530000 of Adam Company's 10-year, 10% bonds at a price of $562090 to yield 9%. Interest is payable each December 31. The bonds are classified as held-to-maturity. Assuming that Oriole Company uses the effective-interest method, what is the amount of interest revenue that would be recognized in 2021 related to these bonds? $53000 $56209 O $50371 $50588
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