On January 1, Ozone Inc. sells bonds with a face value of $1,000,000 and a contractual interest rate of 10% for $800,000. The bonds will mature in 10 years. Using the straight-line method of amortization, how much interest expense will be recognized in the first year?
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Home » Business » On January 1, Ozone Inc. sells bonds with a face value of $1,000,000 and a contractual interest rate of 10% for $800,000. The bonds will mature in 10 years.