Wonder issued $10 million 5% loan notes on 1 January 20X9, incurring issue costs of...
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Accounting
Wonder issued $10 million 5% loan notes on 1 January 20X9, incurring issue costs of $400,000. The loan notes are redeemable at a premium, giving them an effective interest rate of 8%. What expense should be recorded in relation to the loan notes for the year ended 31 December 20X9?
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