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QUESTION
Able Company issued $500,000 of 6%, 5-year bonds on January 2, 2016 for par. The company incurred $25,000 in bond issue costs.
Able Company issued $500,000 of 6%, 5-year bonds on January 2, 2016 for par. The company incurred $25,000 in bond issue costs. What is the correct amount of bond issue expense to be recorded each semi-annual interest period using GAAP?
