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Q: On December 31, 2010, a corporation issued $200,000 face value, 12 percent bonds that mature 10 years from the date of issue. The issue price was 97. If the firm uses the straight-line method of
amortization, interest expense for 2011 will be reported at what amount?
A: 24,000
Expert answered|forestg|Points 20|
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Asked 1/1/2012 4:43:26 PM
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