Illustrate the interest expense of the bonds on december

Reference no: EM132726084

Problem 1: On March 31, 20x7, Pepe issued for $887,000, $1,000,000 face amount of its 10%, $500,000 bonds. The bonds were issued to yield 12%. The bonds are dated July 1, 20x7 and mature on July 1, 20x10. Interest is payable annually on July 1. HARD uses the interest method to amortize bond discount. Determine the interest expense of the Bonds on December 31, 20x8

Reference no: EM132726084

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