On January 1, 20x1, Trec, Inc. issued $50,000 of ten-year 6% bonds for $43,800. Interest was...
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On January 1, 20x1, Trec, Inc. issued $50,000 of ten-year 6% bonds for $43,800. Interest was payable semiannually. The effective yield was 8%. The effective interest method of discount amortization was used. What amount of interest expense should be recorded for the six-month period ending December 31, 20x1? O $1,500 O $1,762 O $2,000 O $1,752 O $1,314 On January 1, 20x1, Trec, Inc. issued $50,000 of ten-year 6% bonds for $43,800. Interest was payable semiannually. The effective yield was 8%. The effective interest method of discount amortization was used. What amount of interest expense should be recorded for the six-month period ending December 31, 20x1? O $1,500 O $1,762 O $2,000 O $1,752 O $1,314
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1762 Explanation Date Semi annual Interest Payment 3 Interest expense 4 Amorti... View the full answer
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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