Business, 07.07.2021 03:40 sbu15

On Jan 1 2020, Ethan Corporation issued 12% bonds with a face value of $4,000,000. These bonds mature in ten years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $4,498,490 to yield 10%. Ethan uses a calendar-year reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2020

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On Jan 1 2020, Ethan Corporation issued 12% bonds with a face value of $4,000,000. These bonds matur...

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