On May 1, 2010, a company issued 30000 of ten year, 12% bonds payable date Jan 1
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Question:
On May 1, 2010, a company issued 30000 of ten year, 12% bonds payable date Jan 1 2010.The cash received amount 29808. The bonds pay semiannually. The company fiscal year ends on June 30, 2010. What amount interest expense should be reported? (assuming straight-line)
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