On January 1,2013,Lane issues $700,000 of 7%,15-year bonds at a price of 106¾.The interest payments are made on June 30 and December 31.Lane elects a fiscal year ending September 30.What is the amount that would be recorded as interest expense in the December 31,2013,journal entry?
A)$24,500.00
B)$22,925.00
C)$12,250.50
D)$11,462.50
E)$13,458.00

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The Answer of On January 1,2013,Lane issues $700,000 of 7%,15-year bonds at a price of 106¾.The interest payments are made on June 30 and December 31.Lane elects a fiscal year ending September 30.What is the amount that would be recorded as interest expense in the December 31,2013,journal entry?
A)$24,500.00
B)$22,925.00
C)$12,250.50
D)$11,462.50
E)$13,458.00

On January 1,2013,Lane Issues $700,000 of 7%,15-Year Bonds at a Price