Question: On January 1 , 2 0 2 3 , a company issued 5 - year, 7 % bonds with a par value of $ 4

On January 1,2023, a company issued 5-year, 7% bonds with a par value of $400,000. The market rate when the bonds were issued was 6.5%. The bonds pay interest semiannually, and the company received $408,422 for the bond.
c. Using the straight-line method, journalize the amount of recorded interest expense for the last semiannual interest period on December 31,2027.

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