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  3. on january 1, bonds with a face amount of $200,000

On January 1, bonds with a face amount of $200,000, an 8% annual effective yield,...

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Accounting

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On January 1, bonds with a face amount of $200,000, an 8% annual effective yield, and a 7% annual coupon rate were sold by Thomas Dynamics, Inc., for $180,000. The bonds pay interest on January 1 and July 1. Using the effective interest method the company's interest expense for the first 6 months ended July 1 will be

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