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Business, 23.03.2020 23:04 lukeperry

The Designer Company issued 10-year bonds on January 1. The 6% bonds have a face value of $800,000 and pay interest every January 1 and July 1. The bonds were sold for $690,960 based on the market interest rate of 8%. Designer uses the effective interest method to amortize bond discounts and premiums. On July 1, of the first year, Designer should record interest expense (round to the nearest dollar) of .A) $27,638 B) $24,000 C) $48,000 D) $55,277

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The Designer Company issued 10-year bonds on January 1. The 6% bonds have a face value of $800,000 a...
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