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  1. business
  2. accounting
  3. (b) george gershwin co. sold $2,100,000 of 10%, 10

(b) George Gershwin Co. sold $2,100,000 of 10%, 10-year bonds at 105 on January 1,...

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Accounting

(b) George Gershwin Co. sold $2,100,000 of 10%, 10-year bonds at 105 on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on July 1 and January 1. If Gershwin uses the straight-line method to amortize bond premium or discount, determine the amount of interest expense to be reported on July 1, 2014, and December 31, 2014

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