What appears as interest payable on the balance sheet

Reference no: EM131911408

Problem

On March 1, 2018, a firm issued $200,000 of 9% bonds. The bonds were dated January 1, 2018. Maturity date is 1/1/23. Interest is paid annually on January 1. Straight-line amortization is used. A total of $210, 500 in cash was received, which included accrued interest. What appears as Interest Payable on the 12/31/18 balance sheet?

Reference no: EM131911408

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