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On July 1, Stanley Corporation issued $4,000,000 of 10-year, 3.5% bonds dated July 1.The bonds were issued at 89 when the market rate was 4%.
On July 1, Stanley Corporation issued $4,000,000 of 10-year, 3.5% bonds dated July 1.The bonds were issued at 89 when the market rate was 4%. Stanley Corporation uses the straight-line method of amortization. Interest is paid each June 30 and December 31. The interest expense recognized for the first semiannual interest payment on December 31 is
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