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A corporation issues $100,000, 10%, 5-year bonds on January 1, 2010, for $95,800. Interest is paid annually on January 1. If the corporation uses the straight-line method of amortization of bond discount, the amount of bond interest expense to be recognized in December 31, 2010's adjusting entry is

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9432146

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