Question
A company issued 5 year, 7% bond with a par value of $100,000 . The market rate when the bond were issued was 6.5% .
A company issued 5 year, 7% bond with a par value of $100,000 . The market rate when the bond were issued was 6.5% . The company received $101.137 cash for the bonds. Using straight- line method, the amount of recorded interest expense for the 1st semiannual interest period is ?
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Loose Leaf Fundamental Financial Accounting Concepts
Authors: Thomas Edmonds, Frances McNair, Philip Olds
8th Edition
0077433807, 978-0077433802
