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Calculate the amount of interest expense on income statement

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Question - Jensen Company issued a $200,000 face value bond on January 1, 2014. The bond was issued at 105 and carried a 5 year term to maturity. It had an 8% stated interest rate that was payable in cash on December 31st of each year. Assume that Jensen uses the straight-line method for amortizing bond premiums and discounts.

Calculate the amount of interest expense on Jensen's 2015 Income Statement?

Reference no: EM132440719

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