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QUESTION
How do I figure out the interest expense entries for the following?
How do I figure out the interest expense entries for the following?
Bryan Company issued $420,000 of 8% face value bonds on January 1, 2016, for $408,480. The bonds are due December 31, 2018, and pay interest semiannually on June 30 and December 31. Bryan uses the straight-line amortization method.
