Find the interest expense

Reference no: EM1346831

DNA Corporation issued $4000000 in 10.5 percent, ten year bonds on February 1, 2010, at 104. Semiannual interest payment dates are January 31 and July 31. Use the straight - line method and ignore year-end accruals.

1. With regard to the bond issue on February 1,2010:
A. How much cash is received?
B. how much is bonds payable?
C. What is the difference between a and b called and how much is it?
2. With regard to the bond interest payment on July 31,2010?
A. How much cash is paid in interest?
B. how much is the amortization?
C. How much is interest expense?
3. With regard to the bond interest payment on January 31, 2019?
A. How much cash is paid in interest?
B. how much is the amortization?
C. How much is interest expense?

Reference no: EM1346831

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Find the interest expense : DNA Company issued $4000000 in 10.5%, 10-year bonds on February 1, 2010, at 104. With semiannual interest payment dates are January 31 and July 31. Apply the straight line method to solve the problem.

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