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Party Ltd. has a December 31 year end. In year 1, Party purchased a $11759 bond on its issue date of September 1. The bond

Party Ltd. has a December 31 year end. In year 1, Party purchased a $11759 bond on its issue date of September 1. The bond pays interest at 6% compounded annually. Party will receive interest when the bond matures on August 31, Year 3. What is the amount of interest to be included in income in Year 1?

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