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How much interest expense will marple company report

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Problem 1: Marple Company sold 5-year, 8% bonds on October 1, 2017. The face amount of the bonds was $100,000, while the issue price was $102,000. Interest is payable on April 1 of each year. The fiscal year of Marple Company ends on December 31. How much interest expense will Marple Company report in its December 31, 2017, income statement (assume straight-line amortization)?

Reference no: EM132769328

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