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A corporation issues 85000 8 5-year bonds on january 1 2011

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A corporation issues $85,000, 8%, 5-year bonds on January 1, 2011, for $88,825. Interest is paid semiannually on January 1 and July 1. If the corporation uses the straight-line method of amortization of bond premium, determine the amount of bond interest expense to be recognized on July 1, 2011.

Reference no: EM13607205

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