Question
John company sold $900,000 of 6%, 20-year bonds at 96 on January 1,2021. The bonds were dated Jan. 1,2021 and pay interest on June 30
John company sold $900,000 of 6%, 20-year bonds at 96 on January 1,2021. The bonds were dated Jan. 1,2021 and pay interest on June 30 and Dec. 31. John paid $80,000 in bond issue costs. If John uses the straight-line amortization, the amount of interest expense for year 2021 would be:
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Financial Management For Nurse Managers Merging The Heart With The Dollar
Authors: J. Michael Leger
5th Edition
1284230937, 9781284230932
