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how to calculate intrest expense On January 1, 2022, Pipestone Corporation issued a four-year, $40,300,7% bond. The interest is payable annually each December 31 .
how to calculate intrest expense On January 1, 2022, Pipestone Corporation issued a four-year, $40,300,7% bond. The interest is payable annually each December 31 . The issue price was $38,965 based on an 8% effective interest rate. Pipestone uses the effective-interest amortization method. Rounding calculations to the nearest whole dollar, which of the following journal entries correctly records the 2022 interest expense? Multiple Choice
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