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On January 1, 2016, Legion Company sold $300,000 of 4% ten-year bonds. Interest is payable...

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Accounting

On January 1, 2016, Legion Company sold $300,000 of 4% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $187,840, priced to yield 10%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2016, in the amount of

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