a company issued 10-year, 7% bonds with a face value of $100,000. The company received...
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Accounting
a company issued 10-year, 7% bonds with a face value of $100,000. The company received $97,947 for the bonds. Using the straight-line method of amortization, the amount of interest expense for the first interest period is:
A. 7,000
B. 7,205.30
C. 6,794.70
D. 2,053.00
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