Question
On January 1 of the current year, Barton Corporation issued 7% bonds with a face value of $94,000. The bonds are sold for $89,300. The
On January 1 of the current year, Barton Corporation issued 7% bonds with a face value of $94,000. The bonds are sold for $89,300. The bonds pay interest semiannually on June 30 and December 31, and the maturity date is December 31, five years from now. Barton records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 is
a.$3,290
b.$470
c.$7,520
d.$7,990
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Auditing An Assertions Approach
Authors: G. William Glezen, Donald H. Taylor
7th Edition
047113421X, 978-0471134213
