(a) Oriole Co. sold $1,970,000 of 12 %, 10-year bonds at 102 on January 1, 2020....

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(a) Oriole Co. sold $1,970,000 of 12 %, 10-year bonds at 102 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1. If Oriole uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2020, and December 31, 2020. (Round answer to O decimal places, e.g. 38,548.) Interest expense to be recorded 115250 (a) Oriole Co. sold $1,970,000 of 12 %, 10-year bonds at 102 on January 1, 2020. The bonds were dated January 1, 2020, and pay interest on July 1 and January 1. If Oriole uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2020, and December 31, 2020. (Round answer to O decimal places, e.g. 38,548.) Interest expense to be recorded 115250

Answer rating: 100% (QA)

Solution a Larkspur Co Issue Price of Bonds less Face Value of Bonds Premium on Issue Cash Int Dat... View the full answer