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31. On January 1, 2018, Huff Co. sold $5,000,000 of its 10% bonds for $4,426,480 to yield 12%. Interest is payable semiannual
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Answer :- Calculation of interest expense for the six months ended June 30,2018 :-

Interest expense = $4,426,480 * .06

Interest expense = $265,588.8 or $265,589(rounded)

So the correct answer is option C.( $265,589)

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