Question
On January 1, 2020, a company issued $490,000 of a 5-year, 10% convertible debentures at 105. Interest is to be paid semi-annually on June 30
On January 1, 2020, a company issued $490,000 of a 5-year, 10% convertible debentures at 105. Interest is to be paid semi-annually on June 30 and December 31. Bond premium/discount is amortized on a straight-line basis. For the journal entry on December 31, 2021, how much is the interest expense?
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The Auditor An Instructional Novella
Authors: James K. Loebbecke
1st Edition
0130799769, 978-0130799760
