Question 1 (3.5 points) On January 15, 2020, Admiral Ackbar Company issued $600,000 of 8%,...
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Question 1 (3.5 points) On January 15, 2020, Admiral Ackbar Company issued $600,000 of 8%, 5-year bonds at 105. Admiral Ackbar Company makes annual interest on January 1st. Assuming that Admiral Ackbar utilizes the straight-line amortization method for bond discounts and premiums, how much bond interest expense is recorded on December 31st, 2020? (Hint: Work this problem out for the 1st FULL YEAR as you will need this information for another question). $48,000 $54,000 $6,000 $42,000
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