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NEED ASAP IN 10 MINS PLEASE SHOW CALCULATIONS!!!!!! Sunrise Corporation issued $900,000 of 6%, 10-year bonds on January 1, 2021, for $777,690. This price provided
NEED ASAP IN 10 MINS PLEASE SHOW CALCULATIONS!!!!!!
Sunrise Corporation issued $900,000 of 6%, 10-year bonds on January 1, 2021, for $777,690. This price provided a yield of 8% on the bonds. Interest is payable semiannually on June 30 and December 31. If Sunrise uses the effective-interest method and fiscal year-end is on October 31, the amount of interest expense reported on the income statement for the year ended October 31, 2021 should be: (Do not add dollar sign: do not add comma by yourself to your amount; round the answer to the whole number)Step by Step Solution
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