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Calculate bond interest expense for the first six months

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Question - A firm issued $250,000 of ten-year, 12 percent bonds payable on January 1, for $281,180, yielding an effective rate of ten percent. Interest is payable on January 1 and July 1 each year. The firm records amortization on each interest date. Calculate bond interest expense for the first six months using effective interest amortization.

Reference no: EM132438334

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