Find out the dollar value of the interest expense


Question: On January 1, 2018, Company issued $100,000 face value, 7%, 10-year bonds at 102. Interest is paid annually on January 1. Company uses the straight-line method for amortization. Determine the dollar value of the interest expense for the 2018 fiscal year.

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Accounting Basics: Find out the dollar value of the interest expense
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