On January 1, current year, Kaiser Permanente issued $2,000,000 of 8% bonds at par. These bonds are due in 10 years with interest payable semiannually on June 30 and December 31. What is the amount of the interest expense in the current year assuming the use of the effective interest amortization method?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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On January 1, current year, Kaiser Permanente issued $2,000,000 of 8% bonds at par. These bonds are due in 10 years with interest payable semiannually on June 30 and December 31. What is the amount of the interest expense in the current year assuming the use of the effective interest amortization method?

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