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Luke Corp. issued $2,000,000 of 20-year, 9% callable bonds on July 1, Year 1, with interest payable on June 30 and December 31. The
Luke Corp. issued $2,000,000 of 20-year, 9% callable bonds on July 1, Year 1, with interest payable on June 30 and December 31. The fiscal year of the company is the calendar year. What is the entry to record the payment of interest on December 31 in the year the bonds were issued? O Interest Expense Cash 180,000 180,000 O Interest Payable 90,000 Interest Expense 90,000 Cash 180,000 Cash 90,000 Interest Expense 90,000 O Interest Expense 90,000 Cash 90,000
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