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find interest expense(1.2% of preceding bon carrying amount) Un June 30,2020 , the market interest rate is 2.4%. Armstrong Enterprises issues $500,000 of 3.4%,17-year bonds

find interest expense(1.2% of preceding bon carrying amount)

Un June 30,2020 , the market interest rate is 2.4%. Armstrong Enterprises issues $500,000 of 3.4%,17-year bonds at 110.625. The bonds pay interest on June 30 and December 31 . Armstrong amortizes bonds by the effective-interest method

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