Question
A county issues 10 million of bonds at 5%. The bonds are issued on April 1 and interest is due semiannually on September 30 and
A county issues 10 million of bonds at 5%. The bonds are issued on April 1 and interest is due semiannually on September 30 and march 31 all interest is paid on time.
Which amount of interest expenditure will this county report in the first year ended December 31?
A 0
B 250,000
C 375,000
D 500,000
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Auditing A Modern Approach
Authors: Sanjay Basotia
1st Edition
938092903X, 978-9380929033
