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Bad account inc. sold $10000000, 5 year, 3%, semi-annual bonds for $9124794 on Jan 1, 2022. From its proceeds bad accountants paid legal fees of
Bad account inc. sold $10000000, 5 year, 3%, semi-annual bonds for $9124794 on Jan 1, 2022. From its proceeds bad accountants paid legal fees of $200000 to Good Lawyers. The market rate for similar bonds is 5%. The bonds pay interest semi-annually on June 30th and December 31. How much interest expense would bad accountants record at June 30, 2022?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
