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On June 30, 2018, L. N. Bean issued $10 million of its 8% bonds for $9 million. The bonds were priced to yield 10%.
On June 30, 2018, L. N. Bean issued $10 million of its 8% bonds for $9 million. The bonds were priced to yield 10%. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, how much bond interest expense should the company report for the 6 months ended December 31, 2018? $450,000 $500,000 O $420,000 O $400,000 4
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Managerial Accounting
Authors: Susan V. Crosson, Belverd E. Needles
8th Edition
9780618777174, 618777180, 618777172, 978-0618777181
