Bad account inc. sold $10000000, 5 year, 3%, semi-annual bonds for $9124794 on Jan 1, 2022. From its proceeds bad accountants paid legal fees of $200000 to Good Lawyers. The market rate for similar bonds is 5%. The bonds pay interest semi-annually on June 30th and December 31. How much interest expense would bad accountants record at June 30, 2022?

Answer rating: 100% (QA)

To calculate the interest expense that Bad Account Inc would record on June 30 2022 we need to deter... View the full answer