Solution-Determine the amount of bond interest expense

Determine the amount of bond interest expense

Reference no: EM133128209

Question - Jones Corporation issued $400,000 of its 8%, 10-year bonds, dated January 1, 2016, at face value plus accrued interest on May 1, 2016. Interest is paid on January 1 and July 1. Jones uses the most common method to record the sale of the bonds between interest payment periods.

Required - Determine the amount of bond interest expense reported on the year-end 2016 income statement?

A. $32,000

B. $21,384

C. $21,333

D. $17,538

Reference no: EM133128209

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Determine the amount of bond interest expense

Reference no: EM133128209

Reference no: EM133128209

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