On January 1, a company issued a $500,000, 10%, 8-year bond payable, and received proceeds...
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Accounting
On January 1, a company issued a $500,000, 10%, 8-year bond payable, and received proceeds of $473,845. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The amount of interest expense to be recorded on June 30 is $25,000.
True
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False
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