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On October 1, 2020 Sheffield Corp. issued 4%, 10-year bonds with a face value of...

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Accounting

On October 1, 2020 Sheffield Corp. issued 4%, 10-year bonds with a face value of $6010000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. Bond interest expense reported on the December 31, 2020 income statement of Sheffield Corp. would be

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