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Solo paid 53000 in bond issue costs solo uses straight line

Question - On January 1, 2016 Solo inc issued 1,300 of its 8%, $1,000 bonds at 99. Interest is payable semiannually on January 1st and July 1st. The bonds mature January 1, 2026. Solo paid $53,000 in bond issue costs. Solo uses straight line amortization. Calculate the amount of interest expense for the year?

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Accounting Basics: Solo paid 53000 in bond issue costs solo uses straight line

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Accounting Basics: Solo paid 53000 in bond issue costs solo uses straight line

Reference No:- TGS02886985

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