Question
Use the following information for all questions related to Gloria's Glorious Morning Muffins: Gloria's Glorious Morning Muffins issued a $10,000 bond exactly a year ago.
Use the following information for all questions related to Gloria's Glorious Morning Muffins:
Gloria's Glorious Morning Muffins issued a $10,000 bond exactly a year ago. The bond is a three-year bond that pays interest every six months. The issue price of the bond was $10,983.46. Interest expense for the first six months was $659.01.
Today's cash interest payment (the second one Gloria has made) was $800. Interest expense recorded for the second six months was $650.55.
Show the journal entry Gloria will make to record the mentioned interest payment. Round your answers to the nearest two decimal places.
Dr. Interest Expense
Dr.
Cr.
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