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Business, 10.02.2022 05:30 ellycleland16

On November 1, Year 1, Banana Corporation issued $323,000 of eight-year bonds with a stated rate of 11% at par. Interest payments occur each April 30 and October 31. On December 31, Year 1, Banana Corporation made an adjusting entry to accrue interest at year-end. What is the amount of Interest Expense that will be recorded on December 31, Year 1

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