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A company issues $60,000 of 6%,5-year bonds dated January 1 that pay interest semiannually on...

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Accounting

A company issues $60,000 of 6%,5-year bonds dated January 1 that pay interest semiannually on June 30 and December 31 each year. If the issuer accepts $62,000 for the bonds, the premium on bonds payable will (increase/decrease) total interest expense recognized over the life of the bond by $.

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