Question
A company issued 5-year, 16.50% bonds with a par value of $119,000. The market rate when the bonds were issued was 16.00%. The company received
A company issued 5-year, 16.50% bonds with a par value of $119,000. The market rate when the bonds were issued was 16.00%. The company received $121,504 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is:
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The Practitioners Blueprint To Construction Auditing
Authors: Ron Risner
1st Edition
0894137263, 978-0894137266
