Question
On January 1, 2019, Amin, Inc. issued $1,200,000, 10-year, 8% bonds for $1,050,450. The bonds pay interest on June 30 and December 31. The market
On January 1, 2019, Amin, Inc. issued $1,200,000, 10-year, 8% bonds for $1,050,450. The bonds pay interest on June 30 and December 31. The market rate is 10%.
How much is the interest expense on the bonds for the first interest payment on June 30, 2019?
Select one:
A. $48,000
B. $96,000
C. $52,523
D. $105,045
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Inside Accounting The Sociology Of Financial Reporting And Auditing
Authors: David Leung
1st Edition
1138251178, 9781138251175
