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Business, 09.05.2020 17:57 rayraye

Designer Company issued 10-year bonds on January 1. The 10% bonds have a face value of $96,000 and pay interest every January 1 and July 1. The bonds were sold for $115,787 based on the market interest rate of 8%. Designer uses the effective interest method to amortize bond discounts and premiums. On July 1 of the first year, Designer should record an interest expense (round to the nearest dollar) of:

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Designer Company issued 10-year bonds on January 1. The 10% bonds have a face value of $96,000 and p...
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