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What is the balance of interest payable account as of dec

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Reference no: EM132919637

On January 1, 2012, Harper Corp. issued € 200,000 face value bond with coupon interest of 5% payable annually. The first interest payment was due on January 1, 2013. On December 31, 2012, the carrying amount of the bond was €188,835.24, while on December 31, 2013, it was €190,165.35.

Problem 1: How much is the interest expense for 2013?

Problem 2: What is the effective rate on the bond issuance?

Problem 3: What is the balance of the interest payable account as of December 31, 2013, if any?

Reference no: EM132919637

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