Question
A company issues $15700000, 9.8%, 20-year bonds to yield 10% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds
A company issues $15700000, 9.8%, 20-year bonds to yield 10% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $15430602. What is interest expense for 2018, using straight-line amortization?
A $1,544,119 B $1,552,070 C $1,907,433 D $1,538,600
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Essentials of Accounting for Governmental and Not-for-Profit Organizations
Authors: Paul A. Copley
10th Edition
007352705X, 978-0073527055
