A corporation issues 400000 85yr bonds on january 1 2012, Ask an Expert

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a corporation issues $400,000, 8%,5yr bonds on January 1, 2012, for $416,800. Interest is paid annually on January 1. If the corporation uses the straight-line methond of amortization of bond premium, the amount of bond interest expense to be recongnized in December 31, 2012 adjusting entry is

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Accounting Basics, Accounting

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