Question
On January 1 of the current year, Barton Corporation issued 12% bonds with a face value of $99,000. The bonds are sold for $96,030. The
On January 1 of the current year, Barton Corporation issued 12% bonds with a face value of $99,000. The bonds are sold for $96,030. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, 5 years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is
a. $12,474
b. $11,880
c. $990
d. $2,970
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Expert Systems In Auditing
Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi
1st Edition
1349124761, 978-1349124763
