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Crawford Candy Company sold five-year, 7% bonds on October 1, 2022. The face amount of...

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Accounting

Crawford Candy Company sold five-year, 7% bonds on October 1, 2022. The face amount of the bonds was $110,000, while the issue price was $114,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. Crawford will report how much interest expense in its December 31, 2022, income statement (assume straight-line amortization)? (Do not round intermediate calculations.)

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