Knowledge Check 01 Crawford Corporation issues $100,000 of 7 % bonds on January 1, Year...
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Knowledge Check 01 Crawford Corporation issues $100,000 of 7 % bonds on January 1, Year 1. The bonds have a six-year term and pay interest semiannually on June 30 and December 31 each year. Assuming a market interest rate of 6%, what is interest expense on the bonds on December 31, Year 1
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