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Lindsay Corp. sold $2,500,000 of 11%, 10-year bonds at 106.231 to yield 10% on January 1,...

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Accounting

Lindsay Corp. sold $2,500,000 of 11%, 10-year bonds at 106.231to yield 10% on January 1, 2015. The bonds were dated January 1,2015, and pay interest on July 1 and January 1. Determine theamount of interest expense to be reported on July 1, 2015, andDecember 31, 2015

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