Question: ( b ) On January 1 , 2 0 2 0 , Swifty Co . issued 9 % bonds with a face value of $

(b) On January 1,2020, Swifty Co. issued 9% bonds with a face value of $695,000 for $613,136 to yield 11%. The bonds are dated January 1,2020, and pay interest annually.
What amount is reported for interest expense in 2020 related to these bonds, assuming that Swifty used the effective-interest method for amortizing bond premium and discount? (Round answer to 0 decimal places, eg.38,548.)
Interest expense to be reported for 2020
( b ) On January 1 , 2 0 2 0 , Swifty Co . issued

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