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Question
a corporation issues $400,000, 8%, 5-year bonds on january 1, 2012, for $416,800. interest is paid annually on january 1. if the corporation uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized in december 31, 2012s adjusting entry is
a.$28,640
b.$32,000
c.$35,360
d.$3,360
Answer
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