On july 1 browning corporation issues 1500000 of 10-year 7

Reference no: EM13605813

On July 1, Browning Corporation issues $1,500,000 of 10-year, 7% bonds dated July 1 at 90 when the market rate of interest is 9%. Browning uses the straight-line method of amortization. Interest is paid each June 30 and December 31. The interest expense recognized for the first semiannual interest payment on December 31 is?

Reference no: EM13605813

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