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On January 1, 2024, Legion Company sold $220,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were
On January 1, 2024, Legion Company sold $220,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $165,166, priced to yield 10%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2024, in the amount of: Note: Round your answer to the nearest dollar amount.
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$8,258.
$26,400.
$11,000.
$6,600.
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