A company issued 5-year, 7% bonds with a par value of $100,000. interest is paid...
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Accounting
A company issued 5-year, 7% bonds with a par value of $100,000. interest is paid semi-annually on June 30 and December 31. The company received $ 97,947 for the bonds. Using the straight line method, compute the total amount of interest expense ( cost of borrowing) over the life of the bond.
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