Question
On January 1, 2019, Commercial Equipment Sales issued $ 38 comma 000 in bonds for $ 20 comma 700 . These are sixminus year bonds
On January 1, 2019, Commercial Equipment Sales issued
$ 38 comma 000
in bonds for
$ 20 comma 700
.
These are
sixminus
year
bonds with a stated interest rate of
11
%,
and pay semiannual interest on June 30 and December 31. Commercial Equipment Sales uses the
straightminus
line
method to amortize the Bond Discount. What amount is debited to Interest Expense on June 30, 2019?
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
