On January 1, 2018, Baltimore Company issued $250,000 face value, 7%, 5-year bonds at 102. Interest is paid annually on January 1. Baltimore uses the straight-line method for amortization.
On January 1, 2018, Baltimore Company issued $250,000 face value, 7%, 5-year bonds at 102. Interest is
paid annually on January 1. Baltimore uses the straight-line method for amortization. Determine the dollar value of the interest expense for the 2018 fiscal year.
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