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Valley Company issued $300,000 of ten-year, 10% bonds payable on January 1, for $340,772, at...

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Accounting

Valley Company issued $300,000 of ten-year, 10% bonds payable on January 1, for $340,772, at a market rate of 8%. Interest is payable semi-annually. What is the bond interest expense for the first interest payment using straight-line amortization

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