Mind the GAAP, a local accounting firm, issues $2,000,000 of 10-year, 8% bonds dated January 1, 2020.

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Mind the GAAP, a local accounting firm, issues $2,000,000 of 10-year, 8% bonds dated January 1, 2020. Interest is payable semi-annually on January 1 and July 1 each year. The proceeds realize $1,801,367 sales price less the $20,000 fee charged by Mind the GAAP's investment bank Mind the GAAP's fiscal year-end is December 31 What would Mind the GAAP debit to interest expense on July 1, 2020? Please do not round intermediary answers. Round your final answer to the nearest dollar. Do not use $ signs or commas in your final

Posted Date: Jun 25, 2024 11:07 AM

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Mind the GAAP, a local accounting firm, issues $2,000,000 of 10-year, 8% bonds dated January 1, 2020.

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