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Business, 30.03.2020 17:56 alisonguerrero17

Cramer Company sold five-year, 6% bonds on October 1, 2021. The face amount of the bonds was $185,000, while the issue price was $196,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much interest expense will Cramer Company report in its December 31, 2021, income statement (assume straight-line amortization)

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Cramer Company sold five-year, 6% bonds on October 1, 2021. The face amount of the bonds was $185,00...

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