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How do l find the interest rate? 31-Dec Interest expense 4,331,693 Discount on bonds payable 261,693 Cash [$74,000,000 x 11% x 1/2] 4.070.000 [To record

How do l find the interest rate?

31-Dec Interest expense 4,331,693 Discount on bonds payable 261,693 Cash [$74,000,000 x 11% x 1/2] 4.070.000 [To record the payment of semi-annual interest and amortization of discount.]

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