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How much bond interest expense would the company record

Assignment Help Financial Accounting
Reference no: EM132962023

Problem 1: TTD Inc. issues $350,000 of 5%, 6- years bonds on January 1, 2020. The market interest rate is 7% and interest is paid annually on December 31. How much bond interest expense would the company record on the first interest date?

Option 1: $15,832
Option 2: $17,500
Option 3: $15,832
Option 4: $16,325
Option 5: $22,163

Reference no: EM132962023

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