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On January 1, 2021, Riley Inc sold $290,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were
On January 1, 2021, Riley Inc sold $290,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $190,212, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2021, in the amount of: (Round your answer to the nearest dollar amount.)
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$11,413.
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$34,800.
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$8,700.
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$17,400.
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