On January 1, 2021, Sole Man Shoe Repair Corporation issued 16,000 of its 9%, $1,000 bonds at 97. Interest is payable semiannually on June 30 and December 31. The bonds mature on December 31, 2030. Sole Man uses straight-line amortization of any premium or discount. What is interest expense for 2022?

Answer rating: 100% (QA)

Answer Heres how to calculate the interest expense for Sole Man Shoe Repair Corporation in 2022 Calculate the face value of the bond issue Face value ... View the full answer