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show work and expalin On January 1, 2016, Blair Company sold $800,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December

show work and expalin

On January 1, 2016, Blair Company sold $800,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $708,000, priced to yield 12%. Blair records interest at the effective rate. Blair should report bond interest expense for the six months ended June 30, 2016 in the amount of:

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