Greenwood Company issued bonds with a face value of $150,000, a stated interest rate of 6% bonds, and a 10-year maturity term. Interest is payable in cash on December 31 of each year. The bonds were sold at 103.5. The company uses the straight-line method to amortize bond discounts and premiums.Required:Calculate the amount of annual interest expense

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The Answer of Greenwood Company issued bonds with a face value of $150,000, a stated interest rate of 6% bonds, and a 10-year maturity term. Interest is payable in cash on December 31 of each year. The bonds were sold at 103.5. The company uses the straight-line method to amortize bond discounts and premiums.Required:Calculate the amount of annual interest expense

Greenwood Company Issued Bonds with a Face Value of $150,000