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Required information [The following information applies to the questions displayed below.] On January 1 of this year, Keshon Corporation issued bonds with a face
Required information [The following information applies to the questions displayed below.] On January 1 of this year, Keshon Corporation issued bonds with a face value of $3,000,000 and a coupon rate of 10 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31. When the bonds were sold, the annual market rate of interest was 10 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Required: 2. What amount of interest expense should be recorded on June 30 and December 31 of this year? Note: Do not round intermediate calculations. Interest expense June 30 December 31
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