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Compute the amount of bond interest expense to be recognized

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Question - Franklin Corporation issues $84,000, 10%, five-year bonds on January 1 for $87,800. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, compute the amount of bond interest expense to be recognized on July 1?

a. $3,360

b. $3,740

c. $3,820

d. $6,720

Reference no: EM132556431

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