Question
6. Ferrone Company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The
6. Ferrone Company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $9,802,072. Ferrone uses effective-interest amortization. What amount of interest expense will Ferrone record for the June 30, 2017 payment? show work please the answer is $392,083 but I need to see how you got it without excel
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Accounting Principles Volume 2 Chapters 13 To 26
Authors: Jerry J. Weygandt
11th Edition
1118342070, 978-1118342077
