Question
On July 1, Luna Sea Sushi, Inc., issued $300,000 of 5% bonds dated July 1 at 92.000 when the market rate of interest is 7%.
On July 1, Luna Sea Sushi, Inc., issued $300,000 of 5% bonds dated July 1 at 92.000 when the market rate of interest is 7%. Interest is paid each June 30 and December 31. By what amount should Interest Expense be debited when recording the second semiannual interest payment on June 30?
Round your answer to the nearest whole number. DO NOT INCLUDE $ IN YOUR ANSWER.
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Accounting Information Systems
Authors: Robert Hurt
4th Edition
78025885, 78025884, 9781259293795 , 978-0078025884
