On January 2, 2020, $241,462 in 11 year, 7% bonds with a market interest rate...
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On January 2, 2020, $241,462 in 11 year, 7% bonds with a market interest rate of 9%, and interest payable semiannually, were issued for $185,895. On June 30, bond interest was paid. On December 31, the corporation showed an after tax Net Income of $59,787. On December 31, bond interest was paid; and dividends were declared and paid.
What is the Bond Interest Expense on the Income Statement on December 31, 2020?
On January 2, 2020, $241,462 in 11 year, 7% bonds with a market interest rate of 9%, and interest payable semiannually, were issued for $185,895. On June 30, bond interest was paid. On December 31, the corporation showed an after tax Net Income of $59,787. On December 31, bond interest was paid; and dividends were declared and paid.
What is the Bond Interest Expense on the Income Statement on December 31, 2020?
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