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Determine amount of bond interest expense to be recognized

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Problem 1: Franklin Corporation issues $50,000, 10%, 5-year bonds on January 1, for $52,100. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, Determine the amount of bond interest expense to be recognized on July 1 is

Option 1: $2,500

Option 2: $2,290

Option 3: $10,290

Option 4: $2,710

Reference no: EM132476198

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