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37, Hansby Mandelkern Corporation issues $100,000, 8%, 5-year bonds on...

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Accounting

37,
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Hansby Mandelkern Corporation issues $100,000, 8%, 5-year bonds on January 1, 2007, for $104,200. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount or premium, the amount of bond interest expense to be recognized in December 31, 2007's adjusting entry is o $7,160. o $840. O $8,840. o $8,000 Hansby Mandelkern Corporation issues $100,000, 8%, 5-year bonds on January 1, 2007, for $104,200. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount or premium, the amount of bond interest expense to be recognized in December 31, 2007's adjusting entry is o $7,160. o $840. o $8,840. o $8,000

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