On January 1, 2014, 3Way Energy issued $200 million of 15-year, floating-rate debentures at par value. The
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1. How much cash interest did 3Way Energy pay on the debentures in 2014? How much will it pay in 2015?
2. How much interest expense did the company record on the debentures in 2014? How much will it record in 2015?
Debentures
Debenture DefinitionDebentures are corporate loan instruments secured against the promise by the issuer to pay interest and principal. The holder of the debenture is promised to be paid a periodic interest and principal at the term. Companies who...
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Requirement 1 The floating interest rate for 2014 set on January 1 of that ...View the full answer
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Related Book For 
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
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