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Find how much bond interest would the company record

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Reference no: EM132962024

VCM Inc, issues $450,000 of 7%, 8-year bonds on January 1, 2020. The market interest rate is 5% and interest is paid annually on December 31.

Problem 1: How much bond interest would the company record on the first interest date?

Option 1: $35,572
Option 2: $15,229
Option 3: $25,408
Option 4: $35,572
Option 5: $31,500

Reference no: EM132962024

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