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Calculate the accrued interest payable on december

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QUESTION: On April 1, 2013, Dixon Company issued $300,000 worth of bonds, with the interest rate of 12% per annum. The bonds will mature on March 31, 2020. Interest will be paid semi-annually on September 30 and March 31. The company has a December 31 year-end.

Calculate the accrued interest payable on December 31, 2014.

Reference no: EM131938989

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