Cramer company sold 5-year 8 bonds on october 1 2011. the, Ask an Expert

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Cramer Company sold 5-year, 8% bonds on October 1, 2011. The face amount of the bonds was$100,000, while the issue price was $102,000. Interest is payable on April 1 of each year. The fiscalyear of Cramer Company ends on December 31. How much interest expense will Cramer Companyreport in its December 31, 2011, income statement (assume straight-line amortization)

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