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On January 1,2023 , Oriole Ltd. sold five -year, 5% bonds with a face value of $405000. Interest will be paid semi-annually on June 30

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On January 1,2023 , Oriole Ltd. sold five -year, 5% bonds with a face value of $405000. Interest will be paid semi-annually on June 30 and December 31 . The bonds were sold for $423190 to yield 4%. Using the effective interest method of amortization of bond discount or premium, interest expense for 2023 is $23528. $16200. $16895. $20250

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