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  3. harris pilton purchased $1,000,000, 9% bonds from

Harris Pilton purchased $1,000,000, 9% bonds from Bobo's Balloons on January 1, 2020, paying $827,951.18....

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Accounting

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Harris Pilton purchased $1,000,000, 9% bonds from Bobo's Balloons on January 1, 2020, paying $827,951.18. If interest is payable semi- annually every July 1 and January 1, what is the amount of interest revenue that must be recognized on July 1, 2020, assuming the company uses the effective interest rate method? Assume an effective-interest rate of 12%. Select one: 0 a. $9,677 b. $49,677 c. $4,677 a d. $45,000 e. $82,795 Google Chrome Version 89.0.4389.114 Microsoft Windows 10 Home 64-bit Build 6.2.9200

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