Effective-interest technique of amortization of bond premium

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A corporation issued $600,000 10%, 5-year bonds on January 1, 2011 for 648,666 which reproduces an effective-interest rate of 8%. Interest is paid semi-annually on January 1 and July 1. If the corporation uses the effective-interest technique of amortization of bond premium the amount of bond interest expenditure to be recognized on July 1, 2011

Reference no: EM13109592

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