Assuming use of the straight-line amortization method

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On April 1, 20X1, Collings Corporation purchased $100,000 of 7%, 5-year bonds dated April 1, 20X1, at 101. Interest is paid on March 31 and September 30. Assuming use of the straight-line amortization method, the proper amount of income to record on September 30, 20X1 is: Question 13 options: A) $7,000 B) $3,400 C) $3,500 D) $3,600

Reference no: EM131202232

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