Question
Pearson Co issue its $62,000 at a price of 103, the stated rate is 8%, the bond term is 4 years, and the market rate
| Pearson Co issue its $62,000 at a price of 103, the stated rate is 8%, the bond term is 4 years, and the market rate is 5%. Assume the term of the bonds is 4 years.
Using the straight line method of amortization, the interest expense in the 1st year will be $_____ _
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Please explain the steps? Thanks | |||||
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Hospitality Management Accounting
Authors: Michael M. Coltman, Martin G. Jagels, Martin Jagels
7th Edition
0471348848, 978-0471348849
