On November1, 2018, Arch Services issued $ 316000 of eightyear bonds with a stated rate...
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Accounting
On November1, 2018, Arch Services issued $ 316000 of eightyear bonds with a stated rate of 11% at par. Interest payments occur each April 30 and October 31. On December31, 2018, Arch made an adjusting entry to accrue interest at yearend. What is the amount of Interest Expense that will be recorded on December31, 2018?(Do not round any intermediatecalculations, and round your final answer to the nearestdollar.) a. 724 b.5793 c. 17380 d. 34760
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