On January 1, 2016, Sanchez Corporation issued 5-year $200,000 bonds with a 4% stated rate...
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Accounting
On January 1, 2016, Sanchez Corporation issued 5-year $200,000 bonds with a 4% stated rate of interest at 97. Sanchez Corporation pays the interest annually on December 31 and uses the straight-line amortization method. What is the total interest expense associated with these bonds for 2016?
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