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Determine the amount of interest expense

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Question - On January 1, 2021, Solo Inc. Issued 1,000 of its 8%, $1,000 bonds at 98. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1, 2031. Solo paid $50,000 in bond issue costs. Solo uses straight-line amortization. Determine the amount of interest expense for 2021?

Reference no: EM133116073

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