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Step2247 [10]
3 years ago
8

Crawford Corporation issues $100,000 of 7% bonds on January 1, Year 1. The bonds have a six-year term and pay interest semiannua

lly on June 30 and December 31 each year. Assuming a market interest rate of 6%, what is interest expense on the bonds on December 31, Year 1?

Business
1 answer:
Luda [366]3 years ago
8 0

Answer

The answer and procedures of the exercise are attached in the attached archives.

Explanation  

Please consider the information provided by you in the exercise. If you have any question please write me back. Please take a look to the image attached.  

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