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On July 1, 2020 Valen Company issues $3,000,000 of 10-year, 8.5% bonds at 102. Valen uses the straight-line method of amortization, Interest is paid each
On July 1, 2020 Valen Company issues $3,000,000 of 10-year, 8.5% bonds at 102. Valen uses the straight-line method of amortization, Interest is paid each June 30 and December 31. The interest expense recognized on the first semiannual interest payment on December 31, 2020 is:
$130,500
$130.050
$124,500
$127,500
On July 1, 2020 Valen Company issues $3,000,000 of 10-year, 8.5% bonds at 102. Valen uses the straight-line method of amortization, Interest is paid each June 30 and December 31. The interest expense recognized on the first semiannual interest payment on December 31, 2020 is:
$130,500
$130.050
$124,500
$127,500
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