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Harper purchased a corporate bond at its face amount of $20,000 on January 1, 2023. The bond pays 5% interest on each December 31. On

Harper purchased a corporate bond at its face amount of $20,000 on January 1, 2023. The bond pays 5% interest on each December 31. On April 30, 2023, Harper sold the bond for $21,000.

How much interest income in 2023 must Harper recognize on the bond?

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Question

Harper purchased a corporate bond at its face amount of $20,000 on January 1, 2023. The bond pays 5% interest on each December 31. On

Harper purchased a corporate bond at its face amount of $20,000 on January 1, 2023. The bond pays 5% interest on each December 31. On April 30, 2023, Harper sold the bond for $21,000. How much interest income in 2023 must Harper recognize on the bond?

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Harper purchased a corporate bond at its face amount of $20,000 on January 1, 2023. The bond pays 5% interest on each December 31. On April 30, 2023, Harper sold the bond for $21,000.

How much interest income in 2023 must Harper recognize on the bond?