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What amount of accrued interest payable should corp report

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Question - On January 1,2020. Best Corp. issued $100,000 face value, 14% bonds for $124,924 cash. The bonds matured on December 31, 2029. Interest will be paid semiannually on January 1 and July 1. The market rate is 10% and Best Corp. uses the effective interest method for recording interest. What amount of accrued interest payable should best Corp. report in its December 31, 2020 balance sheet?

Reference no: EM133186743

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