Greenwich Company issued fifty, $1,000, 6% bonds that mature in ten years. Interest is paid annually. The bonds were sold at 103 ½, and Greenwich amortizes bond discounts and premiums using the straight-line method.
Calculate the amount of annual interest expense for Greenwich Co.

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The Answer of Greenwich Company issued fifty, $1,000, 6% bonds that mature in ten years. Interest is paid annually. The bonds were sold at 103 ½, and Greenwich amortizes bond discounts and premiums using the straight-line method.
Calculate the amount of annual interest expense for Greenwich Co.

Greenwich Company Issued Fifty, $1,000, 6% Bonds That Mature in Ten