A ten-year $8,000,000 bond is issued on January 1, 20xx with a 6% stated interest rated. Interest is paid semiannually on June 30 and December 31st. What is the amount that would be recorded as interest expense on June 30, 20xx (the first interest payment), assuming that no interest expense has been recorded since the bond was issued on January 1st? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
A ten-year $8,000,000 bond is issued on January 1, 20xx with a 6% stated interest rated. Interest is paid semiannually on June 30 and December 31st. What is the amount that would be recorded as interest expense on June 30, 20xx (the first interest payment), assuming that no interest expense has been recorded since the bond was issued on January 1st? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter10: Long-term Liabilities
Section: Chapter Questions
Problem 10.1AP
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