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This question was created from Quiz 1 ACCT II UMUC.docx https://www.coursehero.com/file/37267059/Quiz-1-ACCT-II-UMUCdocx

This question was created from Quiz 1 ACCT II UMUC.docx https://www.coursehero.com/file/37267059/Quiz-1-ACCT-II-UMUCdocx/

37267059-261666.jpeg

37267059-261666.jpeg
On January 1, 2018, Baltimore Company issued $250, 000 face value , 8%/6, 10 – year bonds
at 102. Interest is paid annually on January 1 . Baltimore uses the straight – line method
for amortization . Use this information to determine the dollar value of the interest
expense for the 2018 fiscal year . Round your answer to the nearest whole dollar .
 
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