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On January 1, Elias Corporation issued 11% bonds with a face value of $77,000. The bonds are sold for $74,690. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 10 years from now. Elias records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is
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On January 1, Elias Corporation issued 11% bonds with a face value of $77,000. The bonds are sold fo...
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