Question
# 31 In 20x1 a city issues $10 million , 8% bonds at par on April 1, to build improvements for its utilities enterprise fund.
# 31 In 20x1 a city issues $10 million , 8% bonds at par on April 1, to build improvements for its utilities enterprise fund. Interest is payable every six months from the date of issuance.
calculate amount of interest expense should this city report for the year ended 12/31/20x1?
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408066621, 1408066629, 1408076861, 978-1408076866
