Question
On January 1 of the current year, Barton Corporation issued 8%, 5-year bonds with a face value of $92,000. The bonds are sold for $87,400.
On January 1 of the current year, Barton Corporation issued 8%, 5-year bonds with a face value of $92,000. The bonds are sold for $87,400. 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 current year ended December 31 is?
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Auditing And Assurance Services
Authors: Timothy Louwers, Penelope Bagley, Allen Blay, Jerry Strawser, Jay Thibodeau
8th International Edition
1260570517, 978-1260570519
