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2. Gain contingencies should a. be accrued if they are probable and can be reasonably estimated b. not be accrued in the accounts c. be
2. Gain contingencies should a. be accrued if they are probable and can be reasonably estimated b. not be accrued in the accounts c. be accrued only if they are the result of litigation or government appropriation d. not be accrued or disclosed in the footnotes 3.. Nazzi, Inc. issued $800,000 (face value) of its 9% (face rate), five-year bonds dated January 1, 2023, on May 1, 2023, for $786,000 plus accrued interest. Interest is paid on January 1 and July 1 and straight-line amortization is used. Immediately after the interest payment has been recorded on July 1, 2023, the balance of interest expense is a. $12,500 b. $24,000 c. $25,000 d. $36,000 000312
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