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On January 1, 2015, Rex Co. issued 10-year bonds with a face value of $5,000,000 and a stated interest rate of 12%, payable semiannually on
On January 1, 2015, Rex Co. issued 10-year bonds with a face value of $5,000,000 and a stated interest rate of 12%, payable semiannually on June 30 and December 31. The bonds were sold to yield 10%.
- Prepare the amortization table for the years 2015, 2016 & 2017
- Make the journal entries for 2017
- How much was the interest expense for 2017?
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