Question
On January 1, 2021, Legion Company sold $260,000 of 9% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were
On January 1, 2021, Legion Company sold $260,000 of 9% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $228,929, priced to yield 11%. Legion records interest at the effective rate. Legion should pay cash interest for the six months ended June 30, 2021, in the amount of:
Multiple Choice $11,700. $10,302. $12,591. $14,300.
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Management Accounting Information for Decision-Making and Strategy Execution
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
6th Edition
137024975, 978-0137024971
