Question
. A corporation issues $100,000 of 10%, 5-year bonds on January 1, 2016 for $95,800. Interest is paid semiannually on January 1 and July 1.
. A corporation issues $100,000 of 10%, 5-year bonds on January 1, 2016 for $95,800. Interest is paid semiannually on January 1 and July 1. If the corporation uses the straight-line method of amortization of bond premium, the amount of interest expense to be recognized on July 1, 2016 is:
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp, Loreen Knapp
5th Edition
032418834X, 978-0324188349
