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What amount will be reported

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Question - On July 1, 2020, Charlie issued $150,000 of 10-year bonds with an 8% annual coupon rate (payments due semiannually on January 1st and July 1st of each year, with the first payment due on January 1, 2021). The effective market interest rate at bond issuance was 10%. The bonds were issued at $131,307. Rounding to the nearest dollar, what amount will be reported in the 2020 year-end financial statements for "interest expense" for the first six months that the bond is outstanding?

Reference no: EM132917566

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