Business
Business, 13.01.2021 18:00, Funkyatayo

Cramer Company sold five-year, 6% bonds on October 1, 2018. The face amount of the bonds was $155,000, while the issue price was $160,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much interest expense will Cramer Company report in its December 31, 2018, income statement (assume straight-line amortization)

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Cramer Company sold five-year, 6% bonds on October 1, 2018. The face amount of the bonds was $155,00...

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