On January 1, 2017, Gore Co. sold to Cey Corp. $900,000 of its 10% bonds for $796,766 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as interest expense for the six months ended June 30, 2017?
On January 1, 2017, Gore Co. sold to Cey Corp. $900,000 of its 10% bonds for $796,766 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as interest expense for the six months ended June 30, 2017?
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