What is the total amount of interest expense
Problem
Pharoah Corporation issues $360,000 of 6%, 5-year bonds on January 1, 2022, at 105. Assuming that the straight-line method is used to amortize the premium, what is the total amount of interest expense for 2022?
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Assuming that the straight-line method is used to amortize the premium, what is the total amount of interest expense for 2022?
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