Acompany issues $15,000,000, 7.8%, 20-year bonds to yield 8% on january 1, 2012. interest is paid on june 30 and december 31. the proceeds from the bonds are $14,703,109.
using effective-interest amortization, how much interest expense will be recognized in 2012?
a. $585,000
b. $1,170,000
c. $1,176,374
d. $1,176,249
Answers: 2
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Acompany issues $15,000,000, 7.8%, 20-year bonds to yield 8% on january 1, 2012. interest is paid on...
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