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On January 1, 2019, a company issued $400,500 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue
On January 1, 2019, a company issued $400,500 of 10-year, 12% bonds. The interest is payable semi-annually on June 30 and December 31. The issue price was $414,403 based on a 10% market interest rate. The effective-interest method of amortization is used. Rounding all calculations to the nearest whole dollar, what is the interest expense for the six- month period ending June 30, 2019? $20,720. $24,864. 0 0 0 $24,030. $20,025
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