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What the amount of bond interest expense to be recognized

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Question 1: A corporation issues $246000,10%, 5-year bonds on January 1, 2020, for $235800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized on December 31, 2020's adjusting entry is

Option 1: $26640
Option 2: $24600
Option 3: $22560

Reference no: EM132895956

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