Question: Exercise 9-72 (Algorithmic) Interest Payments and Interest Expense for Bonds (Straight Line) On January 1, 2020, Philips Corporation issued bonds with a total face amount

Exercise 9-72 (Algorithmic) Interest Payments and Interest Expense for Bonds (Straight Line) On January 1, 2020, Philips Corporation issued bonds with a total face amount of $739,000 and a stated rate of 7%. Required: 1. Calculate the interest expense for 2020 if the bonds were sold at par. 2. Calculate the interest expense for 2020 if the bonds were sold at a premium and the straight-line premium amortization for 2020 is $8,000. 3. Calculate the interest expense for 2020 if the bonds were sold at a discount and the straight-line discount amortization for 2020 is $6,000 Exercise 9-72 (Algorithmic) Interest Payments and Interest Expense for Bonds (Straight Line)

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