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What amount should sheffield report as interest expense

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Reference no: EM133123431

Question - On January 1, 2021, Sheffield Corp. sold $5000000 of its 8% bonds for $4426480 to yield 10%. Interest is payable semiannually on January 1 and July 1. What amount should Sheffield report as interest expense for the six months ended June 30, 2021?

A. $221324

B. $250000

C. $200000

D. $177065

Reference no: EM133123431

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