Question
How do I figure out the interest expense entries for the following? Bryan Company issued $420,000 of 8% face value bonds on January 1, 2016,
How do I figure out the interest expense entries for the following?
Bryan Company issued $420,000 of 8% face value bonds on January 1, 2016, for $408,480. The bonds are due December 31, 2018, and pay interest semiannually on June 30 and December 31. Bryan uses the straight-line amortization method.
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
13th edition
134472144, 978-0134472140
